How To Make Biodiesel

The Inter-American Development Bank released a report recently highlighting the potential of green energy throughout Brazil and the rest of Latin America. So much so, in fact, that its Private Sector Department is structuring senior debt financing for three Brazilian ethanol production projects at a total cost of $570 million. The department’s Brazil pipeline also includes loans for five biofuel transactions or projects with biofuel components that will have a total cost of nearly $2 billion. The investments will contribute to Brazil’s goal of tripling annual ethanol production by 2020, according to IDB chief Luis Alberto Moreno. Calling biofuels a “”transformative opportunity” for Latin America and the Caribbean, Moreno detailed a broad pipeline of investment projects and technical assistance programs designed to help the region’s countries reach renewable energy targets in a sustainable way. Sustainability is important, said Moreno at a briefing at IDB headquarters organized by the Interamerican Ethanol Commission, as the report predicts that the breakneck pace of biofuel production will effectively cause energy consumption in developing countries to be three times that of industrialized countries. “Biofuels could bring investment, development and jobs to rural areas with high levels of poverty, while reducing dependence on imported fossil fuels” in several IDB member countries, Moreno said, “In this respect, we think biofuels can further our core mission, which is to bring economic opportunity and a better quality of life to the region’s low-income majority.” Moreno said that ethanol and biodiesel offer the greatest economic opportunity for the region and acknowledged Brazil’s international leadership in this area, which he said could benefit other countries through technology transfer. At the same time, Moreno cautioned against unrealistic expectations regarding biofuels. He said the IDB is closely examining questions regarding cost, subsidies, labor conditions and the impact of biofuels on land use and food production. The IDB headquartered in Washington, D.C., has the goal of supporting Latin American and Caribbean economic/social development and regional integration by lending, mainly to governments and government agencies.

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