Brazil received applications from 373 companies and organizations seeking 12.3 billion reais ($6.13 billion) in funding to research renewable power and energy efficiency through a government program.
The state development bank said that’s about four times the 3 billion-real budget of the Inova Energia program to spur the development of smart-grid systems, electric vehicles, renewable power and other technologies.
The development lender Banco Nacional de Desenvolvimento Economico e Social, state innovation agency Financiadora de Estudos e Projetos and power regulator Agencia Nacional de Energia Eletrica will channel 3 billion reais to the program, according to yesterday’s statement.
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