Catalyzing private investment in sustainable energy in Argentina - Part 1

Catalyzing private investment in sustainable energy in Argentina - Part 1

  • Status Lapsed
  • Date approved 15 Dec 2016
  • ESS Category Category B

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.

The project has an estimated lifespan of 22 years.

Total project value


Tonnes of emissions avoided




Result areas

Project timeline


24 Sep 2016 - 83 days

Funding proposal received

24 Sep 2016

Cleared by iTAP

30 Nov 2016


15 Dec 2016 - 591 days

Approved by GCF Board

15 Dec 2016


28 Jul 2018

One region

  • Latin America and the Caribbean

One country

  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

LoanUSD 130,000,000
GrantUSD 3,000,000
Total GCF Financing
USD 133,000,000


Inter-American Development BankLoanUSD 168,000,000
Inter-American Investment CorporationLoanUSD 32,000,000
B-lender and co-lenders to be mobilized by IDBG and project sponsorsLoanUSD 125,000,000
Project sponsorsEquityUSD 195,000,000
Total Co-Financing
USD 520,000,000

GCF Contacts

General media inquiries

GCF Communications
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
Send e-mail

Accredited Entity

Inter-American Development Bank
Ms. Victoria Eugenia Florez Toro

Chief, Resource Mobilization Division
1300 New York Avenue, NW, 20577., Washington DC, United States
Ms. Gloria Visconti

Lead Climate Change Specialist
1300 New York Avenue NW, Washington, D.C., United States
Phone + 1 (202) 623-1924
More contacts

National Designated Authority

Under-Secretary of International Financial Relations for Development of the Ministry of Economy
Mr. Leandro Gorgal Primary
Under Secretary of International Financial Relations for Development
Yrigoyen 250, City of Buenos Aires, Buenos Aires, Argentina
Mr. Federico Azpiroz Secondary
Yrigoyen 250, City of Buenos Aires, Buenos Aires, Argentina