Brazilian development bank lends Ion Energia $22m for BESS rollout

The Brazilian Development Bank (BNDES) has approved a BRL 120 million ($22.2 million) credit line for Ion Energia, based in Sorocaba, São Paulo. The borrowing will finance climate change adaptation and greenhouse gas reduction equipment, with a focus on battery-type storage and renewable energy.

A BRL 84 million chunk of the credit was approved through the New Climate Fund – Green Machines program and must be used within a year. The remaining BRL 36 million is BNDES Machines and Services credit and lasts three years.

“Many of our customers want to use battery solutions but don’t have the capital to invest,” said Ion chief executive Paulo Daniel Baraldi. “With this line of credit, we’ll be able to expand our offering of solutions so they can make this energy transition without the need for this initial investment.”

Ion Energia, part of the Gera Group, was established in 2015 and sells and leases sustainable energy equipment, particularly battery energy storage systems and solar arrays. Ion also provides engineering, installation, operation, and maintenance services.

From pv magazine Brasil.