FinDev Canada to support lending for 270 MW of renewables in LatAm, Caribbean

The Montecristi Solar power plant in Guayubin, Dominican Republic. Author: PresidenciaRD. License: Attribution-NonCommercial-NoDerivs 2.0 Generic (CC BY-NC-ND 2.0)

July 10 (Renewables Now) - Development Finance Institute Canada (DFIC) Inc, operating under the brand FinDev Canada, said it will provide a loan to support financing of 270 MW of renewable energy projects in Latin America and the Caribbean.

FinDev, a wholly-owned subsidiary of Canada’s export credit agency, will provide a USD 15 million (EUR 13.3m) to Panama-based non-bank financial institution Corporacion Interamericana para el Financiamiento de Infraestructura SA (CIFI).

CIFI offers loans to small and medium-sized enterprises (SMEs) for infrastructure projects in Latin America and the Caribbean, as well as advisory services to an array of institutions. The funds from FinDev will help facilitate green lending and contribute to investment in new wind, solar and biomass-fired capacity across the two regions.

The new plants will generate some 828,000 MWh of renewable power per year and prevent the emission of around 644,000 tonnes of CO2 into the atmosphere, while supplying electricity to an estimated 328,000 people, FinDev said.

(USD 1.0 = EUR 0.885)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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