Triunfo receives payment for 192-MW Garibaldi hydropower development project

Canoas River

Brazil's Bank of Economic and Social Development, BNDES, has paid the second part of a US$180.4 million loan to Triunfo Participacoes for its 192-MW Garibaldi hydroelectric plant.

BNDES' most recent $67.7 million disbursement is part of a package contracted in June 2012, which carries a 2.34% annual interest rate with a repayment of period of 16 years beginning July 15.

The Garibaldi hydropower project is located on the Canoas River in Brazil's southern Santa Catarina state. Triufino said the plant is expected to begin operations during the second half of this year.

HydroWorld.com reported earlier this month that Brazil's Norte Energia SA had also received part of a BNDES loan for its 11.2-GW Belo Monte plant.

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