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Argentina will strengthen its renewable energy production with this important solar park called San Juan Solar
ENERGIA LIMPIA XXI. There are no magic formulas for lowering energy prices, but Argentina could reduce pollution and reduce electricity bill costs in the near future. Recently, BID Invest, a member of the Inter-American Development Bank (IDB) Group, announced that it would finance the construction, operation and maintenance of San Juan Solar, an 80 MW solar PV plant in the province of San Juan, Argentina. The project is being developed by Jinko Solar, a world leader in the production of photovoltaic modules, and is his first investment in the Southern Cone.
The financing consists of a BID Invest loan of US $ 10.75 million and mobilization of loans from international business entities for $ 39.4 million. Both provide senior and subordinated debt tranches. In addition, the Canadian Climate Fund for the Private Sector of the Americas (C2F) is funding a third tranche of US $ 10 million, administered by BID Invest to support environmentally sound projects in Latin America and the Caribbean. . Energía Limpia XXI reports that the operation, with a maximum duration of 15 years, constitutes the longest loan with the participation of commercial banks for a project RenovAr program, the initiative of the Argentine government for diversify the energy matrix of the country. The participation of the C2F fund under the same terms and conditions as the senior loan of BID Invest was fundamental to complete the financing.
The project, awarded under a tender, will replace the equivalent of 2.38 million tons. carbon dioxide in the next 20 years. San Juan Solar will also contribute to the sustainability and security of power generation in Argentina, producing electricity at more competitive prices than other alternative energy sources.
The participation of BID Invest has made it possible to extend the duration of the financing, which guarantees the financial viability of the project. He has also played a role in mobilizing senior and subordinate commercial lenders. BID Invest also contributes to strengthening the sustainability of the project through the application and verification of the required environmental and social standards
About BID Invest
BID Invest, the private sector institution of the Group of The Inter-American Development Bank (IDB) is a multilateral development bank engaged in business in Latin America and the Caribbean. IDB Invest finances companies and sustainable projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $ 11,200 million in badets under management and 330 clients in 23 countries, BID Invest provides innovative financial solutions and consulting services that meet the demands of its clients in various sectors. In November 2017, BID Invest is the trading name of the Inter-American Investment Corporation. http://www.idbinvest.org
About Jinko Solar Holding Co., Ltd.
Jinko Solar (NYSE: JKS) is a world leader in the solar industry. Jinko Solar distributes its solar products and sells its solutions and services to a diversified international base of public, commercial and residential services in China, United States, Japan, Germany, United Kingdom, Chile, South Africa, India, Mexico, Brazil and United States. . United Arab Emirates, Italy, Spain, France, Belgium and other countries and regions. Jinko Solar has built a vertically integrated solar product value chain, with an annual integrated capacity of 7 GW for silicon ingots and wafers, 4.5 GW for solar cells and 8 GW for solar modules, as of September 30 2017. [19659010]
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