IDB Make investments and South American monetary group Bancolombia will present developer Solarpack with a COP656 billion (US$133 million) mortgage to help the event of two photo voltaic PV tasks in Colombia.
IDB Make investments, a clear power financier for the Latin American non-public sector and subsidiary of the Inter-American Growth Financial institution, will present a complete of COP457 billion (US$93 million), together with contributions from the UK Sustainable Infrastructure Programme, and Bancolombia will fulfill the remaining COP199 billion (US$40 million).
The mortgage will help the event of two Colombian photo voltaic parks, La Mata and La Union, of 108MW and 144MW capability respectively. IDB stated that it will likely be one of many largest photo voltaic financing packages in Colombia so far.
Each parks are anticipated to be operational in mid-2023 and produce round 440GWh of energy.
This deal places Solarpack on track to finish its company goal of 430MW of put in capability in Chile, Peru and Colombia. In 2021, the corporate up to date its international targets to deploy 2GW of photo voltaic PV by 2023. Colombia has dedicated to 70% of renewable power capability by 2030, alongside a consortium of eight different South American nations, and can set up 4GW by the top of the last decade.
Each Bancolombia and IDB stated that this monetary transfer helps their commitments to sustainable tasks and decarbonising the non-public sector.
In July, international power supplier Enel started development of a 487MW Colombian photo voltaic PV plant.
Earlier within the 12 months PV Tech Premium spoke with Finnish investor Korkia about probably the most promising rising markets for photo voltaic PV set up, with Colombia being highlighted as one to observe.