BNDES seeks resources from Spanish bank for green projects

The goal is to raise up to US$200 million — around R$1,1 billion — to finance sustainable infrastructure
Helena Tenório, director of BNDES, signs the contract alongside Manuel Illueca, president of ICO, and Cristina Blaso, manager of the International and Fundraising Area of ​​BNDES. Photo: ICO/Disclosure

The BNDES (National Bank for Economic and Social Development) has taken another step towards strengthening the green economy in the country. This week, the institution signed a new agreement with the Instituto de Crédito Oficial (ICO), a public development bank in Spain, to raise up to US$200 million — approximately R$1,1 billion — to finance projects focused on sustainability and the development of clean infrastructure.

The aim is to initiatives that promote renewable energy, energy efficiency and infrastructure projects with a positive environmental impact, such as reducing greenhouse gas emissions and mitigating climate change. In addition, the agreement contributes to intensifying trade relations between Brazil and Spain.

Read also: BNDES approves R$156 million for the implementation of 16 solar plants in Brazil

This is the third collaboration between BNDES and ICO. Together, the institutions have already provided approximately US$400 million (approximately R$2,3 billion) in financing for 16 projects in the energy, construction, transportation, storage and sanitation sectors.

According to the bank's president, Aloizio Mercadante, the ICO financing reinforces the bank's ability to sustainable projects aimed at energy transition, emissions reduction and infrastructure improvements. It is also part of BNDES' strategy to diversify its sources of funding, ensuring access to more competitive conditions.

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Photo by Wagner Freire
Wagner Freire
Wagner Freire is a journalist graduated from FMU. He worked as a reporter for Jornal da Energia, Canal Energy and Agência Estado. Covering the electricity sector since 2011. Has experience in covering events such as energy auctions, conventions, lectures, fairs, congresses and seminars.

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