IDB Invest finances the expansion of solar energy in Brazil with Sicredi
ENERGIA LIMPIA XXI. Brazil continues to promote solare energy projects. IDB Invest, a member of the Inter-American Development Bank (IDB) Group, has provided a loan in Brazilian reals for the equivalent of $ 110 million to Banco Cooperativo Sicredi SA (Sicredi). The funds will promote access to financing for small-scale photovoltaic solar energy systems, supporting the growth of Sicredi’s solar portfolio and contributing to the expansion of distributed generation of photovoltaic solar energy in the Brazilian market.
IDB Invest financing consists of $ 100 million of its own resources and $ 10 million of blended financing from the Canadian Climate Fund for the Private Sector of the Americas (C2F). The objective is to finance Sicredi customers who install photovoltaic solar energy systems while addressing the main gaps that limit the expansion of photovoltaic solar energy financing for micro…
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