EIB backs Chile renewables projects
The European Investment Bank (EIB) has announced a €150 million framework loan to Banco Santander Chile for financing projects contributing to climate change mitigation, especially large and medium-scale renewable energy schemes.
These will include wind, solar photovoltaic, concentrated solar power and biomass projects and transmission lines for transporting renewable energy.
This loan is being granted under the Facility for Energy Sustainability and Security of Supply (ESF). The project meets the ESF’s requirements by supporting environmental sustainability, energy security and the development of renewables.
Since the beginning of its financing activities in Latin America in 1993, the EIB has provided more than €6,300 million for long-term investment projects in 13 countries in the region.
On June 19th we reported that Banco Santander is acquiring stakes in four Chilean wind developments from U.K.-based Rame Energy. The bank will provide with US$69 million of equity funding for the wind power projects.
Santander Investment Chile Ltda. will invest 80% to 90% of the equity capital for 118MW of projects, while Rame has a call option right to reacquire Santander’s equity upon commencement of the commercial operations. The projects are expected to be operational by 31 December 215 at the last.
Country news
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July 07, 2014
SunEdison closes US$190m project financing for Chilean solar power plant
SunEdison, Inc. has announced the closing of a US$155 million non-recourse debt financing arrangement to develop a 72.8 MW merchant solar power plant in Chile. Read more -
August 13, 2014
GNL Quintero refinances debt through bond issue
Santiago-based GNL Quintero, which launched in 2009 as the first liquefied natural gas terminal and storage facility in the Southern hemisphere, has carried out the first securities offering to refinance its project finance debt. Read more -
September 03, 2014
Abengoa closes bridge financing for Chile’s solar project
Abengoa Solar Chile S.A., a branch of the multinational Abengoa Spain, has secured a $205 million bridge financing arranged by BTG Pactual for the construction and operation of the Cerro Dominador solar project, a 110 MW concentrated solar power plant located in Chile. Read more -
September 17, 2014
Chile environment agency approves 392MW of solar PV projects
Chilean environmental assessment agency SEA has approved two large-scale PV plants with a combined generation capacity of 392 MW. Read more -
September 19, 2014
Elecnor and APG close Latin American power transmission joint venture
A subsidiary of Spanish infrastructure and energy developer Elecnor and Netherlands-based APG Asset Management have closed a transaction to jointly own and develop power transmission projects in Latin America. Read more
