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More press releases
EIB Global and Enel provide Colombia with $200 million to support solar energy projects
EIB Global, the international partnerships and development arm of the European Investment Bank (EIB), and Enel Colombia S.A., part of the Italian Enel Group, announced a loan of up to $200 million to finance two new solar projects in the Atlántico region of Colombia at the EU-CELAC (Community of Latin American and Caribbean States) summit today. The Guayepo III and Atlántico projects will help Colombia increase renewable energy supply, reduce emissions and support the country’s climate goals. An initial disbursement of $100 million was completed in July, with the remaining amount expected to be disbursed over the coming months. These projects will strengthen Colombia’s renewable energy capacity, reduce emissions and advance the country’s climate and energy transition goals.
Latin America and Caribbean need more long-term financing and expertise for green investments, EIB-ALIDE survey finds
Public development banks (PDBs) in Latin America and the Caribbean regard the climate transition as a financial opportunity but they face obstacles including a lack of long-term financing and insufficient awareness by clients of investment options, according to a new survey. Carried out by the European Investment Bank (EIB) and the Association of Public Development Banks of Latin America and the Caribbean (ALIDE), the survey also found that a lack of know how of green investment and climate change adaptation among clients and PDBs represented a barrier to scaling up green projects in the two regions.
Colombia: EIB Global provides Enel Colombia with $300 million loan for renewable energy generation and power grid improvements
The European Investment Bank (EIB), in partnership with Enel and SACE, the Italian Export Credit Agency, has provided Enel Group subsidiary Enel Colombia with a loan in the local currency, for a maximum amount in Colombian pesos equivalent to $300 million, which through a synthetic product neutralises the exchange rate risk. The loan is backed by a SACE guarantee. Through this facility, aimed at financing the development of power grids and renewable energy generation in Colombia, the EIB, Enel and SACE have joined forces to support the energy transition in the country and mitigate the effects of climate change.