21. January 2021 Meghan Sapp

BNDES to loan São Martinho $177.46M for biomass power and corn ethanol

In Brazil, National Bank for Economic and Social Development (BNDES) approved a $177.46 million financing to Grupo São Martinho S / A to carry out a series of investments in its plants located in the cities of São Paulo and Goiás. The group will build a new corn ethanol plant at Usina Boa Vista (UBV) and grain storage silos. The support also aims to build a new thermoelectric plant powered by sugarcane bagasse, UTE São Martinho Bioenergia, and to modernize the other thermoelectric plants to increase energy cogeneration, a process in which the steam produced from burning bagasse in the boiler produces electricity through turbogenerators.