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The loan of USD 210 million is the first time BNDES has executed a US dollar indexed loan to a renewable energy project after the new regulation that allows exporters to enter into dollar denominated power purchase agreements (PPAs). The loan sets a new precedent for financing large scale renewable energy projects to decarbonize industry in Brazil.

The Boa Sorte solar plant is located in the state of Minas Gerais, and will be a self production plant, with an installed capacity of 438 MW. Construction started in October, and operations are planned to commence by the end of 2023. Boa Sorte will generate 815 GWh annually. This is equivalent to providing clean energy to more than 394,000 homes and offset more than 61,000 tons of CO2 emissions per year.

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