Enercan to get more BNDES financing

The Enercan consortium that is building the 880MW Campos Novos hydroelectric project in Brazil's Santa Catarina state will receive 619mn reais (today US$211mn) from Brazil's national development bank BNDES, company sources were quoted as saying by news daily Jornal do Commercio. Enercan previously expected 450mn reais from BNDES, and did not consider that to be enough, consortium president Emilio Schneider told BNamericas last May. The extra BNDES assistance should help the company to obtain 300mn reais from the Inter-American Development Bank (IDB), the report said. Enercan has provided 450mn reais of the 1.2bn reais total costs from its own resources. 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%). Power regulator Aneel authorized CNT and CBA to buy their stakes from CPFL at the end of August, and the stakes were transferred September 2.