Enel has signed a BRL 373 million (USD 115 million), 20-year financing deal with Brazilian development bank BNDES for its Apiacás hydropower cluster. In a statement, Enel said it will be charged interest at the Brazilian central bank's long-term rate, which currently stands at 7.5% a year. The current interbank rate in Brazil is 13.63%. The first BRL 293 million tranche was disbursed after signing the agreement, with the remainder to be issued in early 2017, subject to conditions.