BNDES reduces interest rate for loans for large-scale solar projects

Brazilian development bank BNDES has reduced the interest rate for loans it will award to solar energy projects from 1.7% to 0.9%. The bank said the same reduction will be also granted to other, unspecified, projects in the areas of public safety, innovation, environment, sanitation, solid waste treatment and professional qualification. BNDES said the main change will be the lengthening of the repayment period, the calculation of the limits of its participation in accordance with the total investment, and the reduction of the credit spread.