Acciona has bagged a €100 million (US$107 million) long-term ‘green loan’ from Spanish banking group BBVA to partially fund its wind and solar projects in Chile.
The green loan is regulated under the same criteria as a green bond, where an independent auditor certifies the contribution to sustainability by the projects they fund.
In 2014, Chile's National Energy Commission (CNE) awarded a contract to Acciona Energy Chile to supply 600GWh per annum for 15 years to Chilean electricity distributors in the Central Interconnected System (SIC).
In another tender held in August last year, the CNE awarded the company a contract to supply 506GWh annually for 20 years to distributors in the Central Interconnected System (SIC) and the Far North Interconnected System (SING).
Acciona recently announced plans to invest €2 billion (US$2.15 billion) in renewables by 2020 to reach an installed capacity of 10.5GW under its new roadmap, the Sustainability Master Plan 2020 (SMP 2020).