Unipar Secures Green Financing for Cubatão Plant Modernization

Unipar, a leading chlorine and soda producer in Latin America, has obtained R$ 672.9 million ($118 million) in financing from BNDES. The funds will modernize its Cubatão plant, marking a significant step in the company’s investment cycle.

The financing package combines two green credit lines from BNDES. R$ 400 million ($70.2 million) comes from the Climate Fund’s Green Industry program. This loan has a 16-year term with an annual interest rate of 7.53%.

The remaining R$ 272.9 million ($47.9 million) is from the FINEM Environmental line. It offers a 20-year term with interest rates at TLP + 1.1% per year. Both loans have a grace period, with repayments starting in June 2026.

This new financing is expected to reduce Unipar’s average borrowing cost from CDI + 1.51% to CDI + 0.65% per year. The company’s average debt maturity will extend from 4.4 years to about 6.5 years.

Unipar’s CFO, Alexandre Jerussalmy, highlighted the benefits of these competitive credit lines. They improve the debt profile while supporting positive environmental impacts. The extended repayment terms and lower costs are additional advantages.

The Cubatão plant modernization is part of a larger $200 million project. It includes producing hydrochloric acid using green hydrogen from renewable energy sources. About 80% of this energy will come from self-production through wind and solar parks.

Unipar will also replace mercury and diaphragm technologies with membrane technology for chlorine and soda production. This change is expected to significantly reduce energy consumption and CO2 emissions.

BNDES President Aloísio Mercadante emphasized Brazil’s potential to lead global energy transition. He noted that the Climate Fund is a crucial tool for this purpose. The approved project will reduce energy consumption and cut CO2 emissions by over 70,000 tons annually.

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