US solar company Recurrent Energy has announced the source of funding for its 300MW Ciranda solar project in Brazil, which consists of a US$100 million (BRL490 million) package.
Recurrent Energy noted that the project was funded through two phases, the first of which saw around US$58.1 million in investment funds raised by Vinci Partners. The second consisted of a US$48.1 million funding facility, provided by Brazilian state-owned development bank Banco Nacional de Desenvolvimento Econômico e Social (BNDES). The company commissioned the project, in the eastern state of Pernambuco, in August this year.
