Brazilian Banco do Nordeste starts financing solar systems for residentials

Brazilian individuals can now access resources from the Northeast Constitutional Financing Fund (FNE) Sol to finance solar energy projects for residential purposes, including residents of condominiums. The expansion of Banco do Nordeste's credit line was recently published in the Federal Official Gazette. In recent years, Banco do Nordeste (BNB) has consolidated itself, through FNE Sol, as one of the main financiers of renewable energy in Brazil, having invested more than BRL 8.5 billion ($2.2 billion) in projects for business services.
According to the company, clients will be able to finance up to 100 percent of the investment with BNB, with a limit of up to BRL 100,000 ($26,000), a payment term of up to eight years and a grace period of up to six months. For amounts up to BRL 50,000, the necessary guarantee will be added to the sale of the equipment; above this amount, it will be a real guarantee plus sale of the equipment.
The FNE credit line finances all the components for centralized generation and micro and small generation systems for photovoltaic, wind, biomass or small hydroelectric power plants and also their installation.
The product that was already destined to companies of all sizes and sectors, producers and rural enterprises, cooperatives and associations, installed in the area of operation of the Banco do Nordeste, also starts to serve individuals, from December, for implementation of renewable energy systems that serve houses or apartments.

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