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Catalyzing private investment in sustainable energy in Argentina - Part 1

15300000
TONNES of CO2 Anticipated tonnes of CO2 equivalent avoided

Impact

Mitigation
GCF results areas
  • Energy generation and access
Gender benefits Train and employ unskilled or low-skilled female labour in the construction phase of the project, recruit female students in an internship at the sponsor’s corporate location in Argentina and provide assessment tools and certifications on gender equality at the corporate level. UN Sustainable Development Goal #7 Affordable and clean energy

Location & People

Region
  • Latin America & Caribbean
Country
  • Argentina AR

Investment Data

  • Financing:
    • Public
    • Public / Private
    • Private
  • Project size:
    • Micro
    • Small
    • Medium
    • Large
  • E&S Risk category:
    • Category A
    • Category B
    • Category C
Total project investment
GCF Financing
  • Instrument Loan USD
  • Instrument Grant USD
Co-Financing
  • Inter-American Development Bank Loan USD
  • Inter-American Investment Corporation Loan USD
  • B-lender and co-lenders to be mobilized by IDBG and project sponsors Loan USD
  • Project sponsors Equity USD

Project owners

Accredited Entity Executing Entity
  • Inter-American Development Bank
  • Inter-American Investment Corporation
Catalyzing private investment in sustainable energy in Argentina - Part 1 Approved December 2016 Duration 22.0 years
Helping Argentina finance a major move to renewables.

Argentina is endeavoring to introduce renewable energy generation at a similar scale to that of other Latin American countries. This corresponds to a desire by the Government of Argentina to reduce the country’s reliance on fossil fuels (currently accounting for 87 percent of its energy needs) in order to reduce greenhouse gas emissions and energy costs, while also enhancing energy security.

Climate change implications for improving the status quo are evident as 43 percent of Argentina’s emissions in 2012 came from the power sector. Emissions from this sector increased by 64 percent during the past decade.

The objective of this programme is to help catalyze long-term private investment in sustainable
energy in Argentina. This will be done by preparing financing packages for a set of first-moving renewable energy projects. This will then demonstrate the technical and financial viability of business models to conform with laws recently adopted by the government which support renewable energy development.

Under this programme, GCF’s investment of USD 130 million is directed towards at least five renewable energy projects. The GCF investment will be provided in loans, with the option for refinancing guarantees to encourage the participation of local and international banks. GCF support joins other financial investments from the Inter-American Development Bank and Inter-American Investment Corporation.
Document title Published date
Funding proposal 24 Nov 2016
ESS report 30 Nov 2016
Accredited Entity
  • Inter-American Development Bank (IDB) Mr. Matias Bendersky Tel: +1 (202) 623-1723 Mr. David Wilk Tel: +1 (202) 623-1843
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