Banco da Amazônia will finance solar systems

The presidency of Banco da Amazônia announced several measures for the year 2019 and signed a protocol of intentions with the government of the State of Pará on 02/07/2019. Among the measures announced is the offer of R$ 3.48 billion in lines financing for all productive sectors.

The big news is that Banco da Amazônia will start financing the implementation of photovoltaic solar energy systems for individuals. In the past, credit lines for this type of application were only available to legal entities (companies).

With interest of 5.5% per year and terms of up to 36 months, the new financing from Banco da Amazônia will expand access to solar energy systems in the State of Pará, allowing residential consumers to also benefit from the program.

Studies indicate that there is a growth trend of more than 40% in the solar energy systems market in Brazil and the State of Pará, with the support of Banco da Amazônia, is expected to obtain a significant portion of this market.