KfW IPEX-Bank has announced that it is participating in financing the 2.4 GW Ituango hydropower plant in the department of Antioquia in Colombia. KfW IPEX-Bank is loaning the project owner Empresas Públicas de Medellin E.S.P US$100 million, structured as a project-related corporate loan.
Energy Finance & Investment News in Central and South America
The Ministry of Energy and Mining of the Government of Argentina has instructed the boards of state companies Energía Argentina SA (Enarsa) and Emprendimientos Energéticos Binacionales SA (Ebisa) to promote and adopt all acts, actions and corporate collections necessary to proceed to a merger by absorption.
The government of São Paulo has resumed the partial privatisation of Companhia Energetica de São Paulo (CESP), the utility company responsible for approximately 58% of the energy generated in the state, and for almost 12% of the total power produced in Brazil, making it the third largest in the country.
Invenergy has announced that its La Jacinta Solar project, located in the Salto Department of Uruguay, issued a 24.5-year investment-grade rated project bond for approximately US$64.75 million in the U.S. Private Placement Market. The bond was rated Baa3 by Moody’s.
The Administrative Council of Engie Brasil Energia SA has approved borrowing BRL1.04 billion (US$ 329.4 million) from Brazil's National Development Bank (BNDES), to support the development of the 327.7 MW Campo Largo Phase 1 wind project. No further details about the deal have been disclosed.
IPPToday #143: President of Brazil submits bill for US$3.8 billion privatisation of Eletrobras to Congress
The President of Brazil, Michel Terner, has advanced the privatisation of state-owned power company Centrais Elétricas Brasileiras SA, commonly known as Eletrobras, by submitting a bill defining the terms of the sale to Congress. The bill states that the company will be privatised through a capital increase, with an option for a secondary offering of government shares (currently 52%).
IFC, a member of the World Bank Group, with support from the Government of Canada, has completed an US$80 million financing package for the construction and operation of a new, grid-connected, 50 MW wind farm in the Dominican Republic.
Building Energy SpA, multinational company operating as a global integrated IPP in the renewable energy industry, has announced the constitution of Building Energy Andes SpA, a joint venture with Scotta Group aimed to the development, construction and operation of renewable energy assets in Chile.
IDB Invest, the private investment arm of the Inter-American Development Bank, has signed a US$1 billion senior, unsecured A/B loan package to Empresas Públicas de Medellín (EPM) to fund the construction of the 2.4 GW Ituango hydroelectric plant, to be the largest hydropower project in Colombia.
Aela Energía, a joint venture of Actis (60%) and Mainstream Renewable Power (40%), has secured project financing for the construction of two wind farms to be located in the Atacama and Los Lagos regions of Chile. Together the projects will contribute installed capacity of 299 MW to the Central Power Grid System.
Total Eren has announced the successful financing of the 97.2 MW Vientos Los Hercules wind project in southern Argentina. Non-recourse senior debt was structured by KfW IPEX-Bank.
Canada Pension Plan Investment Board (CPPIB), a professional investment management organization, and Votorantim Energia, the energy subsidiary of Brazil’s Votorantim Group, announced that they have signed agreements to form a new joint venture focusing on investments and developments in the Brazilian power generation sector.
The European Investment Bank (EIB) will provide US$150 million to the renewable energy production company Enel Green Power Peru, a local subsidiary of the Enel group, for the construction and operation of a wind farm and a photovoltaic solar plant currently under construction in the Andean country.
The Power Trading Chamber (CCEE) of Brazil has announced that more than 3,841.6 MW of power supply contracts were awarded in the tender that took place yesterday. Around 572,518,389 MWh were awarded for a total BRL108.46 billion (US$32.96 billion), or an average price of BRL189.45 (US$57.5) per MWh.
ISQ Global Infrastructure Fund II, which is owned by I Squared Capital, an infrastructure private equity firm based in New York, is acquiring the Latin American and Caribbean businesses of Inkia Energy, a wholly-owned subsidiary of IC Power Ltd., for US$1.2 billion.
Brazil's Ministry of Mines and Energy has announced that the winning projects in the power transmission line auction that took place on Friday 15 December represent BRL8.75 billion (US$2.66 billion) in investments.
The first Latin America ±800 kV UHVDC (Ultrahigh-Voltage Direct Current) Electricity Transmission Line came into operation on December, 12th 2017 which drains energy generated by the Belo Monte Power Plant in Xingu (Pará, North of Brazil) to the National Interconnected System (SIN – Sistema Inter Nacional) in the Southeast region.
Peru’s infrastructure authority ProInversion has awarded a PPP contract for the design, construction, financing, operation and maintenance of a 220 kV transmission line located in the south of the country.
The International Finance Corporation (IFC) announced on Wednesday 22 November that it has closed a financial package for the 99 MW La Castellana wind project in Buenos Aires province.
Through Gas Natural Distribución Latinoamérica, Gas Natural Fenosa has agreed the sale of a 59.1% stake in its Colombian gas distribution business Gas Natural SA ESP to the Canadian fund Brookfield Infrastructure.