GDF Suez said that the finance facility would equate to 68.5% of the total investment cost of the project, which will have 44 turbines and the first units are due to be operational by March 2012.
The JV that won the 30-year concession, just over a year ago, is Energia Sustentavel do Brasil and comprises GDF Suez (50.1%), the Brazilian electric utilities Eletrosul (20%) and Chesf (20%), and construction group Camargo Correa (9.9%).
In February, GDF Suez noted that BNDES has given approval for the funding, though no reference was given to private bank participation at that point. GDF Suez said that is the largest to be made by the development bank.
The private banks are Banco do Brasil, Caixa Economica Federal, Banco do Nordeste do Brasil, Itau-Unibanco and Bradesco.
Jirau is being built on the river Madeira, and is part of the 6.45GW Madeira scheme which also includes the 3.15GW Santo Antonio project. Previously, it was planned that Jirau's first units would be operational from early 2013. The concessionaire has 30-year deals with electric power distributors to take 70% of the electricity generated at Jirau.
Last month the Brazilian national environmental regulator (Ibama) awarded the installation licence for the project. It gave approval last year for construction and work started before the end of 2008.
andritz Hydro, Voith and alstom are part of a consortium that is to supply a total of 28 units to the project.
