The Brazilian National Social and Economic Development Bank (BNDES) has agreed a US$37.4M loan for the construction of a 30MW hydro plant in Rio De Janiero, Brazil.

According to local media reports, the plant, being developed by power company Santa Rosa, will be built between the municipalities of Bon Jardim and Cordeiro. Electricity from the project will be sold under the Government’s Profina programme via 20 year contracts with Electrobras.

Total project costs are estimated at US$50.5M.