IDB Approves Energy Efficiency Project in Brazil
27 March 2009: The Inter-American Development Bank (IDB) has approved a project to provide Brazil's Usiminas steel company a loan amounting to US$200 million. The first part of the project will finance investments in a new power cogeneration plant and related equipment to produce electricity using excess heat and gases that originate from the production of the steel, allowing the Belo Horizonte-based company to cut its production costs and reduce carbon emissions.
After the second phase, the new cogeneration plant will supply all of the energy needs for the new Santana do Paraíso plant. These investments will also contribute to the site's 99% gas recovery and 98% water recycling. [IDB Press Release]