Lates News

Recently, the Shenzhen Branch of Bank of Communications successfully assisted China Guangdong Nuclear Power Group's Brazilian company in completing a milestone cross-border RMB commercial loan project - the LAGOINHA photovoltaic power generation construction project, injecting strong momentum into energy cooperation between China and Brazil under the "Belt and Road" framework. The project, located in the state of Cear in northeastern Brazil, is the first photovoltaic greenfield project invested and constructed by China Guangdong Nuclear Power Group in Brazil. After the project is fully operational, the annual electricity production is expected to reach 420 million kilowatt hours, enough to meet the daily electricity needs of 240,000 Brazilian households and reduce carbon dioxide emissions by approximately 300,000 tons per year, which is of profound significance to promoting Brazil's green energy development and addressing climate change. The cross-border RMB loan for this project has a term of 5 years. Compared with traditional real direct financing in the Brazilian market under current market interest rate conditions, the RMB direct loan business has significantly saved financial costs for China Guangdong Nuclear Power Group's Brazilian company. (Securities Times)