MPX Eligible for BNDES Financing

MPX Energia has taken steps toward securing BRL1.6bn ($880m) in BNDES financing for its Parnaíba Thermoelectric Complex. The project is expected to be funded with about 70% debt and 30% equity, with total investment for constructing 3 facilities expected at about BRL2.3bn. Though MPX is now eligible for the financing, final terms remain subject to approval by BNDES’ credit committee and board of directors. In June, the Brazilian power generation subsidiary of Eike Batista’s EBX family of companies announced it had acquired two power projects from Bertin. MPX does not disclose the value of the acquisition, but says the two projects generate combined revenues of BRL323.8m.