Brazilian development banks open $1B funding call for sustainable fuels

In Brazil, the National Bank for Economic and Social Development (BNDES) and the Financier of Studies and Projects (Finep) launched in Brasília (DF), a joint public call aimed at selecting business plans for development and implementation of biorefineries, which aim to produce sustainable fuels, including sustainable aviation fuel (SAF) and navigation fuels. R$6 billion in resources will be made available for projects, R$3 billion from BNDES and R$3 billion from Finep.

Brazilian companies that produce fuels or carry out research, technological development and innovation activities with the aim of developing the technologies covered by the notice may participate. Companies that commercialize the final products resulting from these technologies are also included. Companies may participate individually or in consortiums. The objective is to encourage business cooperation and strengthen the first SAF and sustainable fuels for navigation ventures in Brazil.

Each proposal must present only a business plan, with a credit requirement of more than R$20 million for its implementation, using the financial instruments available at BNDES and Finep. The support may cover activities and expenses related to research, technological development, engineering projects, pilot plants (semi-industrial and industrial), working capital, acquisition of machinery and equipment and other expenses related to the structuring of the ventures. Interested parties have until October 31, 2024 to register their projects.