The investment arm of the Inter-American Development Bank, IDB Invest, will finance an 80MW thermal power plant (TPP) in Brazil, the multilateral announced on 6 February 2023.
The investment cost for the project amounts to some R$590 million ($114m), of which IDB Invest will finance $34.82 million.
Apart from the DCOM of the 121,000 square km Cidade do Livro TPP, the project includes a substation and a 25 km 138kV transmission line connecting the TPP to the existing Barra Bonita substation.
Once operational, the TPP, located in the city of Lençóis Paulista, São Paulo state, will produce enough electricity to supply around 1 million households.
The Cidade do Livro will be developed by Brazilian energy firm IBS Energy, which won the 15-year concession at an auction held by Brazil’s national electric energy agency (Aneel) in Q4 2021.
Under the terms of the concession agreement, IBS Energy needs to deliver the TPP by 2026.