IIC finances wind farm in Argentina under RenovAr Program
The Inter-American Investment Corporation (IIC), acting on behalf of the IDB Group, has signed a US$104 million financing package for Greenwind S.A., an affiliate of Pampa Energía S.A. and Castlelake L.P., to construct, operate and maintain the 100 MW Corti Wind Farm in Bahía Blanca, province of Buenos Aires, Argentina.
This marks the first project the IIC finances in RenovAr 1, as well as the first financing of this tender from international lenders. Launch in 2016 by the government of Argentina, the RenovAr Program aims to increase investments in large-scale solar and renewable energy projects in the country.
The financing includes an A loan of US$31.5 million and a B loan of US$72.5 million from Banco Santander and Industrial and Commercial Bank of China (ICBC). Both the A and B loans offer a tenor of 9 years door-to-door, a term unprecedented in Argentina.
This project aims to increase and diversify Argentina’s energy matrix, with the supply of renewable energy (NCRE) and avoid 212,931 tons of CO2 emissions per year during project life. This will contribute to Argentina’s goal of generating 20 percent of its energy from NCRE renewable energy sources by 2025.
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September 15, 2017
Argentina's province of Jujuy launches green bond for largest PV complex in the country
The Argentina's province of Jujuy has launched a US$210 million green bond aimed to co-finance the development of the 300 MW Cauchari solar project, which was selected in the first round of Argentina's renewable energy auction, RenovAr 1.
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August 22, 2017
Argentina launches 1.2 GW round 2 renewable auction
The Government of Argentina has launched the RenovAr Ronda 2 national auction, comprising 1,200 MW of renewable energy capacity.
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June 21, 2017
Argentina approves 1,310-MW Nestor Kirchner-Jorge Cepernic hydro complex
Argentina’s Federal Energy Council has unanimous given the go-ahead for the development of the stalled 1,310-MW Nestor Kirchner–Jorge Cepernic hydropower complex planned for Santa Cruz River in Argentina.
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March 17, 2017
IFC Global Infrastructure Fund invest in I Squared Capital LATAM energy platform
IFC, a member of the World Bank Group, and the IFC Global Infrastructure Fund (GIF), a fund managed by the IFC Asset Management Company (AMC), have invested a combined US$100 million in Orazul Energy Partners LLC, an affiliate of Orazul Energy Holdings LLC, an energy platform in Latin America owned by I Squared Capital.
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March 07, 2017
World Bank approves $480 M guarantee for Argentina green projects
To achieve the target of 20 percent of energy consumption originating from renewable energy in Argentina by 2025, the World Bank Board of Directors has approved a US$480 million guarantee to promote private investment in the sector.
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