- Press Releases
April 22 (Renewables Now) - Spanish solar energy developer Solarpack is awaiting a decision by the private sector arm of the Inter-American Development Bank (IDB) on almost USD 78.4 million (EUR 72m) in loans for two solar projects in Colombia.
Earlier this week, IDB Invest released details on the financing requests for 180 MWac of solar projects by Solarpack. Both secured 15-year power purchase agreements (PPAs) in Colombia’s third long-term contract auction and have interconnection agreements in place. The process of securing environmental approvals is in an advanced stage.
Details on the projects and financing requests are available in the table below.
|Project name||La Mata||La Union|
|Project location||La Gloria, Department of Cesar||Monteria, Department of Cordoba|
|Project capacity||80 MWac||99.99 MWac|
|Financing amount||USD 34.1 million||USD 44.25 million|
|Investment type||Loan & guarantee||Loan & guarantee|
|Projected IDB board date||July 20, 2022||July 16, 2022|
IDB Invest's participation will serve to supplement long-term financing for the projects with participation from the United Kingdom Sustainable Infrastructure Program (UK SIP) Blended Financing Fund, administered by the IDB Group, and in collaboration with a local bank, the IDB unit said.
Solarpack is part of Swedish investment firm EQT AB (STO:EQT).
(USD 1 = EUR 0.919)