Aplicação do project finance para alavancagem de empreendimentos hidrelétricos de pequeno porte

Abstract

In the same way that the majority of the countries, project financing of substructure in Brazil, in project finance modality, depend on a skillful structure of guaranties and contracts to become possible. In the case of projects of centrals of generation of electrical energy, that financial engineering becomes still more complicated. In Brazil, due to particularities of the sectors of electricity, the arrangements of guaranties requested but creditors pass to present levels of complexity and exigency well elevated. The contractual appliances that give support to the project finance, originally projected to developed countries, request an extreme adaptation to these particularities. The development of Brazil is directly related to its capacity in expanding the offer of electric energy in the just measure of the national necessity. In this context, the small central hydroelectric (PCH’s) represent, actually, an efficient and fast form to complete the offer of energy in such a way to supply the crescent demand the national market. For its characteristics, that type of undertaking can be developed by small manager, from among which are the owners of the areas in which on can find these hydraulic potentials which, however they do not dispose of capital to integral raising. These undertakings are tasks, normally, of low global cost, at the rate of US$ 1.000,00/kW, and of a smaller ambient impact, compared to the return that they give to the enterpriser and to the Brazilian electric system as a whole, by having to receive special attention in the planned politics to the sector and to merit a series of incentives to become business still more attractive. By thinking in the found difficulty by small enterprisers in rising undertakings of generation of electric energy of small port through the convectional mechanisms of financing is being proposed in that work a well-founded methodology in the concepts of the modality of financing project finance.