IFC invests $150 million in BV bank to expand solar solutions financing in Brazil
Brazil, Jan. 27 -- The International Finance Corporation (IFC), a member of the World Bank Group, is investing in BV bank to support the financing of small-scale distributed generation (DG) solar panels in Brazil, to increase access to solar energy for retail consumers, contributing to the diversification of the country's energy matrix.Despite being the fastest-growing energy source, solar energy represents less than 10% of total energy consumption in Brazil. In 2023, more than 70% of solar energy capacity additions were from distributed generation. However, access to financing is still limited, with 78% of customers experiencing difficulties in 2022. To overcome this financing gap, IFC has been investing to help alleviate the constraints f...
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