Release date: 27 June 2019
Promoter – Financial Intermediary
BANCO DE DESENVOLVIMENTO DE MINAS GERAIS SALocation
Description
The project consists of a Framework Loan to part-finance a series of climate action projects in the state of Minas Gerais, Brazil, including solar photovoltaic (PV), small-scale hydropower and other renewables.
Objectives
The main purpose of the operation is to part-finance climate action initiatives that will contribute to the achievement of climate change mitigation, which is one of the high-level horizontal objectives of the External Lending Mandate (ELM) for all regions and endorsed by the Management Committee. The proposed operation is therefore fully compliant with the EIB's ELM as it supports the development of sustainable energy in the region, providing environmental benefits and securing the energy supply. It will also contribute to the development of economic infrastructure and of the private sector.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Under ELM Guarantee
This operation is covered by the ELM Guarantee.
Proposed EIB finance (Approximate amount)
EUR 120 million
Total cost (Approximate amount)
EUR 210 million
Environmental aspects
The operation intends to generate environmental benefits by supporting renewable energy (i.e. small size solar photovoltaic, small-scale hydropower, eventually bioenergy plants – biomass) and energy efficiency schemes that help to mitigate climate change.
Procurement
It is expected that the beneficiaries of the schemes under this Framework Loan will be predominantly private entities not operating in the utility sector, not having a status of contracting entity and not being concessionaire. However, it cannot be excluded that some schemes could be classified as public for procurement purposes. Schemes that are subject to local content requirements will not be eligible for the EIB's financing. In any case, the Financial Intermediary will be required to take all the requisite measures to ensure that the procurement procedures are carried out in accordance with the Bank's Guide to Procurement.
Status
Signed - 21/10/2019
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).