IIC finances Argentina's largest wind project
The project will contribute to reduce the carbon footprint and diversify the energy matrix in Argentina
The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB), granted a $200 million syndicated loan to YPF Energía Eléctrica S.A. in Argentina for the construction, operation and maintenance of the 100 MW Manantiales Behr wind farm and related facilities. The project includes a 20 km transmission line of 132 kV and is located about 40 km northeast of the city of Comodoro Rivadavia.
The project will contribute to the diversification of Argentina’s energy matrix and will avoid 245,311 tons of carbon dioxide equivalent per year, supporting the country’s goal of generating 30 percent of its energy from non-traditional renewable sources.
The IIC led the financial structuring of the project, which consists of a $100 million 9-year A loan and a $100 million 6-year B loan. The participating banks are BBVA, Banco Santander and Citibank.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
About the IIC
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $7 billion under management and 330 clients in 20 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.