Nov. 7 (Bloomberg) — Bioenergy Geradora de Energia Ltda., a Brazilian renewable-energy developer, will submit the first loan application for a solar project from the country’s development bank BNDES in January.

The 3 million-real ($1.47 million) loan will cover about 42 percent of the 1-megawatt project’s cost, Sergio Marques, president of the Sao Paulo-based company, said yesterday in a telephone interview.

The plant in the northeastern city of Bom Jesus da Lapa, will begin producing power in the first half of 2013 that it will sell to a commercial building in Sao Paulo city at a rate of 237 reais a megawatt-hour, he said.

BNDES, officially Banco Nacional de Desenvolvimento Economico e Social, has discussed financing solar projects with local developers and hasn’t received any applications, according to a press official who didn’t want to be named because of company policy.

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To contact the editor responsible for this story: Reed Landberg at