KfW Finances Solar Projects for Brazil’s Soccer World Cup Arenas

KfW Group, Germany’s state-owned development bank, provided financing for two solar-power projects to be built on the roofs of soccer stadiums hosting the World Cup in Brazil.

KfW signed a contract with Brazilian utility Cia Energetica de Minas Gerais (CMIG4) for a 10 million-euro ($13 million) loan, the bank said today in a statement. The solar projects, with a total capacity of 2.6 megawatts, will be installed on the Mineirao and Mineirinho stadiums in Belo Horizonte, it said. CEMIG provided 4.25 million euros of capital.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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