Project Finance

Enel Green Power has brought online the São Gonçalo III solar project in Brazil.

Fortescue Future Industries (FFI) has signed an MoU with US sustainable transport company Nikola to evaluate co-development opportunities for large-scale green hydrogen production in the US.

The National Electric Coordinator has released its plans for a $279 million expansion of the transmission system in Chile.

EDF and environmental services company Refocosta are partnering on the development of a biomass power plant in Colombia.

Norwegian energy company Statkraft will abandon the building of a dam-toe hydroelectric plant in Chile out of respect for local indigenous communities, which consider the project site sacred ground.

Enel Green Power has turned on the company’s first renewable distributed generation project located in the metropolitan region of Santiago.

Brazilian solar energy provider Sun Mobi will set up a 5MW solar PV plant in São Paulo state.

Anaergia has reached an agreement Canadian-owned Irving Oil to supply RNG to the energy company’s operations, including the Saint John refinery in New Brunswick.

Spain’s Acciona Energia is planning to develop a 92MW solar project in Chile.

Longroad Energy has started work on Sun Streams 3, a 285MWdc PV and 215 MWac/860 MWh storage project located in Maricopa County, Arizona.

Unigel is planning a R$7.8 billion ($1.5 billion) investment in a green hydrogen complex the company is developing in Brazil.

Lightsource bp has closed on a $267 million tax equity investment from Wells Fargo.

Spanish renewables firm Grenergy’s 240MW Gran Teno solar farm in Chile will start operations “soon”, the company said on Friday (13 January 2023).

State-owned hydro and utility company Urrá’s Aquasol solar complex is close to completion, the firm announced on Friday (13 January 2023).

Texas-based Leeward Renewable Energy (LRE) has closed financing for its Chaparral Springs Solar + BESS facility located in Kern County, California.

Colombia’s state-owned petroleum firm Ecopetrol has selected French-based energy producer Total Eren to build a 100MWp solar farm at its Rubiales oilfield.

Chinese PV module manufacturer YuanTech Solar has obtained the Brazilian INMETRO certification which gives the company the opportunity to operate in the country’s renewable energy market.

British geoscience company Getech and Canadian geothermal firm Eavor Technologies have signed a Strategic Collaboration Agreement to jointly locate and de-risk geothermal projects across Latin America.

Canadian renewables developer Westbridge Renewable Energy Company has expanded its Sunnynook Solar PV project in Alberta to 330MWp.

Oil and gas company BP has begun working on its 107MW Arche Solar project in Fulton County, Ohio.

EverGen Infrastructure Corp. has secured a $31 million syndicated senior term loan facility from its existing lender Roynat Capital – a subsidiary of the Bank of Nova Scotia and Export Development Canada (EDC).

Chilean state-owned mining company Codelco has signed a contract with local electricity utility AES Andes to replace coal supply at 2 mines with renewables.

EnfraGen, a joint venture between Glenfarne Group and Partners Group, has announced the signing of an EPC contract with Chilean renewables firm Verano Energy to develop 8 PV projects in Chile.

The move towards a greener US power industry proved to be more than rhetoric in 2022 as the prioritization of ESG initiatives turned into investments in clean energy and infrastructure.

EDP Renováveis (EDPR) has secured financing to support the construction of 2 wind farms that the company is developing in Brazil.

The interest rate rose with the Pink Tide this year, leaving many in the renewable project finance market stranded in Latin America. While Latin America shouldn’t be treated as a monolith – the continent comprises 33 countries including the Caribbean – the impact of political uncertainty, the reemergence of leftist governments, known as the Pink Tide, and rising interest rates were felt across jurisdictions.

Emerald Solar Energy, a subsidiary of Polaris Renewable Energy, has landed a definitive concession in the Dominican Republic for a solar project.

Brazilian development bank BNDES has agreed to finance the development of 1.5GW of renewable energy in Brazil.

UGI Corporation has teamed up with Sevana Bioenergy and California Bioenergy (CalBio) to develop its second and third clusters of dairy manure waste-to-renewable natural gas projects in South Dakota through MBL Bioenergy.

Brazilian development bank BNDES has granted UISA Geo Biogás an R$80 ($14.6m) million loan to construct an industrial unit producing biomethane and electricity from sugarcane residue.