The Brazilian development bank (BNDES) on Jan. 14 approved R$480 million ($79.57 million) in financing for project that will boost sugarcane ethanol production at a facility in south-central Brazil by 85,000 cubic meters (22.45 million gallons) per year and boost biomass energy capacity by 34 megawatts (MW).
The financing will support efforts by Companhia Mineira de Açúcar e Álcool (CMAA) to expand operations at the Vale do Pontal Açúcar e Etanol S/A facility in Limeira do Oeste, Minas Gerais.
Following the expansion project, the facility will be able to produce approximately 205,000 cubic meters (54.16 million gallons) of anhydrous ethanol annually, along with 68 MW of energy generated from sugarcane bagasse. Sugarcane processing is expected to increase from 2.7 million metric tons to 4 million metric tons. In addition to ethanol and electricity, the facility also produces sugar.
The financing includes R$220 million from the Climate Fund, which will support ethanol and power capacity increase, and $260 from BNDES Machinery and Services, which will help the facility invest in industrial modernization and agricultural machinery. The project is expected to generate more than 500 jobs in the region.
