Brazil Development Bank Lends $640M For Grid Upgrades

Law360, New York (September 26, 2012, 5:12 PM EDT) -- Brazil's development bank will lend 1.3 billion reals ($640 million) to six power utilities to upgrade the country's grid, the bank said late Tuesday, the latest state effort to boost capacity and efficiency ahead of the World Cup and Olympic Games and meet its own rising domestic demand.

Since landing the 2014 World Cup and 2016 Olympic Games last year, Brazil energy officials have channeled their regulatory and financial efforts toward curbing blackouts and shoring up a reliable, balanced grid. In 2010, 50 million people lost...
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