Como o BNDES está lidando com o curtailment
Os cortes forçados na geração de usinas eólicas e solares têm impactado não só a receita das empresas desses setores e seu apetite por investimentos, mas também a atuação do BNDES. De longe o maior financiador de projetos renováveis do País, o banco estatal passou a precificar o chamado curtailment em seus novos empréstimos, enquanto toma providências para lidar com o problema naqueles já…
The BNDES, Brazil's largest financier of renewable energy projects, is grappling with forced curtailment in wind and solar generation. This has affected both the revenue of companies in these sectors and their appetite for new investments. To manage this issue, the bank has started to fix the curtailment risk in its new loans, while also making provisions for those already granted.
Carla Primavera, the superintendent of the BNDES' energy transition and climate transition area, stated that they have addressed this risk project by project, and it is likely that some debt suspensions or renegotiations will occur by the end of the year.
Although the bank has not yet approved any standstill for wind and solar, it has granted some waivers of obligations and released resources from project reserve accounts. Primavera explained that they did this to help companies honor their commitments, but acknowledged that a broad and unrestrained standstill would not suit each case. Instead, they have tailored their approach on a case-by-case basis.
In 2025, the curtailment accounted for about 19% of potential wind generation and 25% of solar production in the country. However, in some cases, it reached over 70% for certain wind plants and up to 90% in extreme situations. Potential payment suspensions are expected to be "very timely" and applied until the regulation for handling generation curtailment is finalized. The BNDES expects some projects to still have significant debt coverage, while others may face more significant risks.
Written by urgent.news from Brazil Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
