FP064

Promoting risk mitigation instruments and finance for renewable energy and energy efficiency investments

Promoting risk mitigation instruments and finance for renewable energy and energy efficiency investments

  • Status Under implementation
  • Date approved 01 Mar 2018 at B.19
  • Est. completion 22 Jan 2024
  • ESS Category Intermediation 2

Scaling up investments by Argentinian Small and Medium-sized Enterprises (SMEs) in renewable energy and energy efficiency. 

The government of Argentina is increasing the share of renewable energy in the country's energy mix to 20 percent by 2025, and will reduce energy consumption by 5.9 percent by 2025. About 43 percent of Argentina's greenhouse gas emissions come from the energy sector. The country experiences market barriers in the financing of renewable energy and energy efficiency investments.

This project focuses on SMEs as they are large users of energy, thereby providing opportunities to promote investments in biogas, biomass and increasing energy efficiency. It will strengthen the capacities of financial institutions, SMEs and energy and technology providers. This will help SMEs identify and invest in renewable energy and energy efficiency. The project will focus on breaking down market barriers in these sectors.

The project has an estimated lifespan of 5 years.

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

Project timeline

Pipeline

14 Jun 2017 - 261 days

Funding proposal received

14 Jun 2017

Cleared by GCF Secretariat

30 Nov 2017

Cleared by iTAP

06 Feb 2018

Approved

01 Mar 2018 - 328 days

Approved by GCF Board

01 Mar 2018

Legal opinion on AE's Internal Approval

28 Jul 2018

FAA executed

24 Dec 2018

Under implementation

22 Jan 2019 - 612 days so far

FAA effective

22 Jan 2019

Disbursement - USD 3,000,000

11 Mar 2019

Disbursement - USD 45,000,000

22 Jul 2019

Completed

22 Jan 2024 - 1,215 days to go

One region

  • Latin America and the Caribbean

One country

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

GCF financing29% disbursed

InstrumentAmount
LoanUSD 100,000,000
GrantUSD 3,000,000

Cofinancing

CofinancerInstrumentAmount
Co-FinancingLoanUSD 60,000,000
Co-FinancingGrantUSD 250,000
Co-FinancingIn-kindUSD 600,000

GCF Contacts

General media inquiries

GCF Communications
Phone +82 10 4458 7751
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 6157
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155
Send e-mail

Accredited Entity

Inter-American Development Bank

Ms. Victoria Eugenia Florez Toro
Chief, Resource Mobilization Division

National Designated Authority

Argentina

Under-Secretariat of International Financial Relations for Development, Secretariat of Strategic Affairs of the Presidency of the Nation

Mr. Leandro Gorgal
National Director of Financing with International Credit Organizations
Hipolito Yrigoyen 250, piso 10-Oficina 1006, Argentina
Mr. Federico Azpiroz
Advisor
Phone +5411 4349 6200
federico.azpiroz@presidencia.gob.ar