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.

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