BNDES to finance US$214mn of Campos Novos

Brazil's national development bank BNDES will provide 620mn reais (US$214mn) in financing for the construction of the 880MW Campos Novos hydroelectric project in Santa Catarina state, the bank said in a statement Monday. BNDES funds will cover 48% of the cost of the 1.3bn reais project, and the Inter-American Development Bank (IDB) will provide an additional 194mn reais. The Enercan consortium that is developing the project will provide the balance of total costs from its own resources, the consortium's president Emilio Schneider told BNamericas in May. Enercan members are CPFL Geracao (48.7%), Parana state-integrated power company Copel (16.7%), aluminum company CBA (16%), nickel company CNT (10%), Rio Grande do Sul state-based distributor CEEE (6.5%) and Santa Catarina state distributor Celesc (2.0%).