Brazil puts up US$1.2bn for green energy projects

Brazilian development bank BNDES, public innovation promotion agency Finep, and industrial innovation-focused Embrapii are making 6.8 billion reais (US$1.2bn) available for green energy projects.

BNDES and Finep have launched a public call, available here, for business plans to create and develop biorefineries. The plants will produce sustainable fuels, including fuels for the aviation and maritime industries. Some 6bn reais will go to the projects, of which 3bn will come from BNDES and 3bn from Finep.

Eligible to participate alone or in consortium are Brazilian firms that produce fuels or carry out research, technological development and innovation with the aim of developing the technologies covered by the call. Companies selling products generated from these technologies are also included. 

Meanwhile, Embrapii said it is investing around 800mn reais in 411 projects involving 379 companies to accelerate the country's decarbonization process and the energy transition.

Among the companies that will receive support are metallurgy player Tupy and Energy Source, which are developing lithium recycling projects. 

Another example is a carbon compensation project carried out by Minas Gerais-based Universidade Federal de Viçosa, which consists of using waste from Suzano's pulp production. 

On Thursday, Embrapii signed a sustainability-focused cooperation agreement with two philanthropic organizations, Agni and Instituto Arapyaú. 

“The partnership will expand Embrapii's contributions in the bioeconomy area, joining forces to overcome technological challenges,” innovation and institutional relations director Igor Manhães Nazareth said in a release.