February 27 (Renewables Now) – Chilean state-owned bank BancoEstado has provided financing totalling CLP 3.5 billion (USD 5.4m/EUR 4.7m) for renewable energy projects implemented by small and medium-sized enterprises (SMEs) since 2017, the lender told local magazine Electricidad on Monday.
Since the launch of the renewable energy and energy efficiency loan programme in June 2017, a total of 26 projects have received approval by the bank.
BancoEstado finances up to 80% of the project’s net value for a maximum period of 12 years under favourable conditions for small businesses. The loan is aimed at SMEs as well as energy services companies (ESCO).
The loan programme is the fruit of the collaboration agreement between BancoEstado, the Chilean energy ministry and the Chilean energy efficiency agency (ACHEE) which seeks to facilitate the implementation of self-consumption and energy efficiency projects.
(CLP 1.0 = USD 0.0015/EUR 0.0014)