Cosan to Rely on BNDES for Co-Gen

Brazilian ethanol producer Cosan says it will look to rely almost exclusively on the BNDES for financing for the BRL2bn co-generation program it announced over the weekend. “We will try to do up to 90% with the BNDES,” says an IR official. The rest is to be funded with cash. The company says it plans to produce 757MW of power by burning biomass left over from its sugarcane crushing. It is planning to have a total of 7 plants built using the funds.