Sudene Greenlights R$400 Million Financing for Solar Projects in Paraíba

Sudene’s Board of Directors has greenlit a prior consultation by the Rio Alto Energias Renováveis ​​Group to fund four photovoltaic solar energy generation projects in Santa Luzia, Paraíba. The request for financing, totaling R$400 million from the Northeast Development Fund (FDNE), will support projects worth over R$668 million.

According to superintendent Danilo Cabral, promoting the energy transition is crucial for sustainability, not only in the Northeast but also nationwide. Cabral emphasized Sudene’s role as a strong partner for companies seeking to establish ventures in this sector.

The Rio Alto XVIII, XIX, XX, and XXI projects, part of the Santa Luzia Solar Complex comprising 21 parks, aim for a combined capacity of 200 MW. During the implementation phase, approximately 1,350 direct and indirect jobs will be generated, with 86 positions expected to be filled upon full operation.

The group responsible for the projects highlighted their commitment to social and environmental initiatives. These include distributing educational materials to local schools, providing resources and recyclable materials to rural families, and offering socio-environmental courses.

This marks the initial stage of Sudene’s financing approval process. The next step involves presenting the project to a designated financial institution accredited to manage FDNE resources. Following technical and financial analysis, final authorization will be deliberated by Sudene’s collegiate board.

Heitor Freire, Director of Fund Management and Incentives at Sudene, noted the increasing interest from investors in establishing companies within the Sudene region. He attributed this to Sudene’s efforts in expanding resource dissemination and accessibility to entrepreneurs.

Further details on FDNE financing conditions are available on the Sudene website, with resources potentially covering up to 80% of the project’s total investment and repayment terms of up to 20 years, depending on the project’s sector and location.