Catalyzing private investment in sustainable energy in Argentina - Part 1
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.
- Private sector
- Public sector
|Total GCF Financing|
|Inter-American Development Bank||Loan||USD 168,000,000|
|Inter-American Investment Corporation||Loan||USD 32,000,000|
|B-lender and co-lenders to be mobilized by IDBG and project sponsors||Loan||USD 125,000,000|
|Project sponsors||Equity||USD 195,000,000|
General media inquiriesGCF Communications
Phone +82 32 4458 6338 (KST)
Request for informationGCF Information Disclosure
Request information about this project
Project complaints and grievancesGCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6485 (KST)
File a complaint
Integrity issuesGCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155 (KST)
National Designated Authority
Under-Secretariat of International Financial Relations for Development, Secretariat of Strategic Affairs of the Presidency of the Nation
Under Secretary of International Financial Relations for Development
Balcarce 50, City of Buenos Aires, Argentina
Notification related to FP030 FP030
||Notification||03 Aug 2018|
Gender action plan for FP030: Catalyzing private investment in sustainable energy in Argentina - Part 1 IDB FP030
||Gender action plan||06 Jun 2017|
Gender assessment for FP030: Catalyzing private investment in sustainable energy in Argentina - Part 1 IDB FP030
||Gender assessment||06 Jun 2017|
Catalysing private investment in sustainable energy in Argentina (Part 1) IDB FP030
||Approved funding proposal||22 Mar 2017|
Environmental and social safeguards (ESS) report for FP030: Catalyzing private investment in sustainable energy in Argentina - Part 1 IDB FP030
||Environmental and Social Safeguards report||30 Nov 2016|