Brazil’s Chesf Gets $516 Million to Upgrade Northeast Power Grid

Chesf, a unit of Brazil’s state-run power utility, will receive 1.2 billion reais ($516 million) in loans from development bank BNDES to upgrade its electricity grid and build power lines in the northeast.

The company will use about 44 percent of the funds to expand its network, including power lines connecting wind farms in the states of Bahia, Ceara and Rio Grande do Norte, BNDES said today on its website. BNDES, based in Rio de Janeiro, is officially known as Banco Nacional de Desenvolvimento Economico & Social and Chesf is officially known as Cia. Hidro Eletrica do Sao Francisco.

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