Ex-Im Bank Funds Brazilian Biogas Project

The Export-Import Bank, US has granted a $48.6 million loan for the exports of equipment and services by FirmGreen and US green technology for the development of a biogas project in Brazil.

This project in addition to changing the environmental hazards to energy sources also generates 165 new jobs in seven states. This is the first biogas reclamation and development project to be funded by the Ex-Im Bank. This is significant as there are few long-term energy renewable projects in Brazil.

The bio-gas plant to be operated from the solid-waste land fill near Rio de Janeiro will convert the harmful methane gas into usable biomethane gas. This is a multi-benefit project as both Brazil and US are benefited by the project, which will not only reduce the green house gasses emission but also play a significant role in improving the renewable energy. The biomethane gas produced from the raw landfills by FirmGreen will be transmitted to the national oil-and gas company of Brazil through pipelines. Other benefits of this project include the reduction of the use of natural gas fossil-fuel, passive landfill emission to atmosphere and greenhouse-gas effects which is equal to the elimination of millions of gallons of gasoline every year. This project is also in tune with Ex-Im Bank’s aim to support the renewable- energy and global environmental beneficial services of US.

Source: http://www.exim.com