BNDES Approves Hydroelectric Loan

Triunfo Participacoes e Investimentos subsidiary Rio Canoas Energia is to receive a BRL368m ($178m) loan from BNDES, it says. The 16-year amortizing loan pays TJLP+2.34% and will be used for construction of the Garibaldi hydroelectric plant, as well as to repay a bridge loan. The plant, which is located in Brazil’s Santa Catarina state, will have an installed capacity of 192 megawatts and is expected to come on line in the second half of 2013.