The Overseas Private Investment Corp. has signed letters of interest to finance several infrastructure projects in Argentina, including a gas pipeline and three renewable energy facilities.
The U.S. government agency will invest a total of $813 million across the projects, which also include transportation and logistics infrastructure. OPIC still needs to evaluate the projects before committing or disbursing funds.
The renewable energy projects are a 122 MW wind project being developed by YPF Luz in Santa Cruz, as well as a wind farm in Ullum and a solar project in Chubut with a total combined capacity of 222 MW, both being developed by Genneia.
YPF Luz would receive a $50 million loan for its wind project under the proposed financing from OPIC, while Genneia would obtain $118 million under two separate agreements.
OPIC would lend $350 million, meanwhile, to finance the construction of the Tecpetrol and Transportadora de Gas del Sur gas pipeline project.
OPIC expects its loans to catalyse “hundreds of millions in additional private capital."
(A version of this article first appeared in IJGlobal)