BNDES approves support for 2 new corn ethanol plants in Brazil
The Brazilian Development Bank (BNDES) announced financing for two new corn ethanol projects in mid-October 2024, which will boost the country’s production capacity by 130 million gallons per year. Alvorada Bioenergia will receive $87.86 million to develop a plant in Mato Grosso, while Coamo Agroindustrial Cooperativa’s project in Paraná will process 1,700 tons of corn daily. Both projects will also produce dried distillers grains and corn oil, contributing to Brazil’s growing biofuel industry.
October 23, 2024
BY Erin Voegele
The Brazilian Development Bank (BNDES) in mid-October announced support for two new corn ethanol projects. Together, the projects will boost the country’s corn ethanol production capacity by an estimated 130 MMgy.
BNDES on Oct. 17 announced has approved $500 million ($87.86 million) in financing to support a project under development by Alvorada Bioenergia, part of the Alvorada Agricultural Group. The project, located in Canarana, Mato Grosso, will feature technology supplied by Germany-based Volgelbush. Once operational, the plant will have the capacity to produce 222,000 cubic meters (58.65 million gallons) of corn ethanol annually. The facility will also have the capacity to produce 147,000 metric tons of dried distillers grains (DDGS) and 8,000 metric tons of corn oil. The project is expected to create approximately 30 direct and indirect jobs.
Also on Oct. 17, BNDES announced it has approved R$500 million in financing to support the construction of a corn ethanol plant under development by Coamo Agroindustrial Cooperativa. That facility, to be located in Campo Mourão, Paraná, is expected to have the capacity to process 1,700 tons of corn per day, producing 765,000 liters (202,091.62 gallons) per day of ethanol. The facility will also have the capacity to produce up to 510 metric tons per day of distillers grains.
Source Link : https://ethanolproducer.com/articles/bndes-approves-support-for-2-new-corn-ethanol-plants-in-brazil
