The Board of Directors of the National Economic and Social Development Bank (BNDES) approved adjustments to the methodology used in the accreditation of modules and national photovoltaic systems.

The methodology makes possible the support to electric power generation projects from the solar photovoltaic source by allowing the accreditation of the equipment in the computerized system of the Bank, establishing specific criteria for the module and the photovoltaic solar generation system.

The approved adaptation simplifies the rules, raises the BNDES 'participation in financing (mainly for micro, small and medium-sized enterprises), increases flexibility, reduces the scope of obligatoriness, and expands the deadlines for changing incentive levels. The objective is to strengthen Bank support to help consolidate the market and the photovoltaic solar energy industry in Brazil.

With the adjustments, which are aligned with the demands presented by the entities representing the sector, the Bank seeks to make the methodology, created in August 2014, more closely related to the current situation, considering the investments made and in progress, as well as projects under development and in perspective.

Another objective is to meet the need to improve the conditions for viable distributed generation, a segment with large participation of MSMEs, which are strategic priority of the BNDES. For companies of this size, the Accreditation Factor (previously called Factor N) will no longer be applied, and FINAME operations will have conditions of up to 80% BNDES participation and up to 10 years term in the financing.

"The best conditions, in terms of rates and deadlines, for smaller companies will open the possibility of producing their own energy from a clean source and available throughout Brazil," said the Superintendent of Indirect Operations of BNDES, Marcelo Concierge.

For the Executive President of the Brazilian Solar Photovoltaic Energy Association (ABSOLAR), Rodrigo Sauaia, the new methodology will contribute to strengthen investments in the production chain and new small, medium and large photovoltaic solar projects.

"ABSOLAR considers that the BNDES initiative reduces uncertainties and overcomes bottlenecks pointed by the sector. The Bank has demonstrated commitment to the establishment and development of this renewable, clean and sustainable source in Brazil, "said the executive.

According to BNDES data, more than R $ 200 million has already been invested in new plants, adjustments or expansions to implement new production lines, generating around one thousand direct industrial jobs.

Last month, the Bank approved the first major financing for photovoltaic solar energy, in the amount of R $ 529 million, related to five solar photovoltaic plants, with a total of 150 megawatts (MWa.c.) of alternating current power, Equivalent to 191 megawatts-peak (MWp) of nominal power.