Brazilian Development Bank Approves BRL 879 Million Financing for Electric Buses

en.Wedoany.com Reported - On October 30, the Brazilian National Bank for Economic and Social Development (BNDES) approved BRL 879.4 million (approximately USD 163 million) in financing for Green Energy S.A. to purchase 400 battery electric buses for public passenger transport in the city of São José dos Campos, São Paulo State. BNDES stated that this is the first project approved by the bank to achieve 100% fleet renewal for an entire city using electric buses produced domestically in Brazil.

The total project investment is BRL 1.139 billion, with BNDES financing covering BRL 879.4 million and the remainder borne by Green Energy. The funds are disbursed through the BNDES Pró-Transporte program, under the Refrota program within the "New PAC" framework, using FGTS (Length of Service Guarantee Fund) resources. Green Energy won the municipal tender in 2025 and was awarded the contract to lease the new electric bus fleet to Urbam, a mixed-economy enterprise owned by the municipality of São José dos Campos, with a total contract value of BRL 2.7 billion and a term of 15 years; under this model, fleet management functions and route operation functions are separated from each other.

The vehicles are supplied by Eletra Industrial, with the traction electrical system, electronic management and energy distribution integrated by Eletra, batteries and motors using WEG products (lithium iron phosphate system), the chassis being the Mercedes-Benz O500U low-entry platform, the body being Caio e-Millennium, and the complete vehicles manufactured in Brazil. The 400 vehicles are divided into three specifications: 144 units of the 12-meter class Basic (right-side doors), 20 units of the 12-meter class Basic (dual-side doors), 212 units of the Padron class (with greater length and passenger capacity than the Basic), and the remainder are articulated models. The Basic model has a range of 220 to 250 kilometers and is equipped with a low floor, accessibility ramp, air conditioning and USB ports. The first batch of 20 vehicles has already entered operation.

The original contract stipulated completion of all deliveries by September 2026, which was postponed to February 2027 in April 2026 and further adjusted to June 2027 in October 2026. Under the current arrangement, 24 additional articulated buses will be added by the end of November 2026, another 65 will be delivered by the end of December, and the remaining vehicles will be delivered monthly until June 2027. The current public transport operation contract in São José dos Campos has been extended to October 2027, with a clause providing for "progressive termination as the new system is implemented" to cover the transition period between the old and new fleets.

The Linha Verde depot has 6 charging piles already in operation; the Pátio Sul depot is already in operation, equipped with 34 charging piles, capable of meeting the daily charging needs of approximately 160 vehicles; the Pátio Paraíso do Sol depot has commenced construction and is expected to be completed by the end of 2026. A total of 9 charging depots with 156 charging piles are planned citywide, with all projects scheduled for completion by 2028.

BNDES estimates that replacing 400 diesel buses with electric buses will reduce carbon dioxide emissions by approximately 31,000 tonnes per year.