Financing for solar energy totals more than R$1,6 billion at Sicredi

Sicredi (Cooperative Credit System) provided more than R$1,6 billion in financing for the acquisition of solar energy projects in Brazil in the first half of this year. This amount represents a 30% increase compared to the same period in 2021, when demand for investments in the sector resulted in R$1,12 billion.

Of the total credit granted in the first six months of 2022, approximately 53,9% (R$662,4 million) was allocated to companies in the sector, while 26,2% (R$419 million) was allocated to individuals and 19,9% ​​(R$318 million) to agribusiness. The credit portfolio for the purchase and installation of photovoltaic equipment reached the mark of more than R$5,2 billion, representing an increase of 65% compared to the balance compared to the same period in 2021.

Sicredi is a cooperative financial institution with a presence in all Brazilian states and the Federal District. In total, the company has around 2,4 branches and more than 300 financial products and services for its members.

Equipment insurance

Earlier this week, Sicredi launched insurance for solar energy equipment, in partnership with Liberty Seguros, to cover material damages resulting from external causes, as well as robberies or qualified thefts. The insurance is available to members who acquire credit or not to invest in sustainable energy equipment at Sicredi. The product has coverage throughout Brazil with contracts of at least 12 months.

Services include contracting and issuing the policy on the spot for projects up to R$700, coverage for the total value of the project, including labor, coverage for any damage from an external cause such as fire, lightning, explosion, hail, robbery and qualified theft and coverage for electrical damage.

Equipment insurance is part of Sicredi's varied portfolio of offers that covers protection for automobiles, homes, rural areas, personal accidents and life, through partnerships with the main insurance brokers in Brazil.