Catalyzing private investment in sustainable energy in Argentina - Part 1
- Energy generation and access
- #7 Affordable and clean energy
Location & People
- Latin America and the Caribbean
- Argentina ARG
- Public / Private
- Project size:
- E&S Risk category:
- Category A
- Category B
- Category C
- Instrument Loan USD
- Instrument Grant USD
- 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 ownersAccredited Entity
- Access Modality: International
- Inter-American Development Bank
- Inter-American Investment Corporation
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.
The project has an estimated lifespan of 22 years.
|ESS report||FP030 - IDB - Argentina||30 Nov 2016|
|Approved funding proposal||FP030 - IDB - Argentina||22 Mar 2017|
|Gender assessment||FP030 - IDB - Argentina||06 Jun 2017|
|Gender action plan||FP030 - IDB - Argentina||06 Jun 2017|
- Inter-American Development Bank (IDB) Mr. Matias Bendersky Tel: +1 (202) 623-1723 Ms. Amal-Lee Amin Tel: +1 (202) 623-1924