IFC, NADB provide USD 200m in loans for 376 MW of Mexican solar projects

Solar array. Author: U.S. Department of Agriculture .

November 20 (Renewables Now) - The International Finance Corporation (IFC) and the North American Development Bank (NADB) will lend USD 200 million (EUR 180.5m) in total for 376 MW of solar projects developed by Mexican power and gas utility Infraestructura Energetica Nova SAB de CV (IEnova).

Тhe money will be used to finance four solar schemes spread across Mexico.

IFC and NADB are providing green loans of USD 100 million each. The one extended by NADB will support the design, construction and operation of IEnova’s 125-MW Don Diego solar park in Sonora state.

Together, these photovoltaic (PV) plants are expected to offset some 561,652 tonnes of carbon dioxide (CO2) emissions per year. They are IEnova’s first projects in the solar energy market as well as IFC's first financing in Mexico certified under the Green Loan Principles, the company stated in its press release.

(USD 1 = EUR 0.902)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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