October 14 (Renewables Now) - The Brazilian Development Bank (BNDES) has approved extending a loan of BRL 44 million (USD 8.4m/EUR 8.6m) to CRI GEO Biogas for the implementation of a 2.15-MW biogas plant in Sao Paulo state.
The financing will cover 80% of the total cost of the project, which is estimated at BRL 56.2 million, the bank said on Thursday. It supports the installation of equipment that will allow the facility to produce 4.5 million cubic metres of biomethane and 9,000 tonnes of biofertilisers per year.
Currently being constructed in Elias Fausto municipality, the biogas facility is scheduled to commence operations in March 2024. It will use biodegradable waste from large industries located in the vicinity of the plant.
BNDES noted that part of the electricity generated will be consumed by CRI GEO and the surplus will be injected into the local distribution network. The biofertiliser will be used in the region's agricultural areas.
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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.
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