GCF approves US$130 million loan for Argentina’s RenovAr programme

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The loan aims to spur private investment in clean energy over the next 15-18 years. Credit: Latam

The board of the Green Climate Fund (GCF) has approved a loan of US$130 million for projects awarded in Argentina’s RenovAr renewable energy programme.

The loan aims to spur private investment in clean energy over the next 15-18 years. It will be managed by the Inter-American Development Bank (IDB Group) through the Inter-American Investment Corporation (IIC).

A release from Argentina’s Ministry of Energy and Mines (MEM) stated: “The cost of financing by the GCF to the projects may be of a concessional nature as agreed by the parties in each case. In addition, the programme includes an amount of US$3 million for institutional strengthening and technical cooperation activities focused on the renewable energy sector in Argentina.”

Argentina’s RenovAr 1 and RenovAr 1.5 aucitons earlier this year have already seen strong interest and significant oversubscription from developers looking to install PV in the South American country.

Read Next

February 24, 2021
France’s ninth auction for ground-based solar PV has seen 452MWp awarded, with average prices up 4.7%.
January 5, 2021
An auction for solar-plus-storage in Israel has awarded contracts for 609MW of solar PV alongside 2.4GWh of energy storage.
December 22, 2020
Solar developers secured all the offered capacity in a recent auction in Poland designed for small-scale renewable projects, with more than 700MW of PV expected to be developed in the country.
December 21, 2020
Indian utility Gujarat Urja Vikas Nigam Limited has auctioned 500MW of PV capacity, with winning bids setting a record for the lowest solar tariff seen in India.
December 14, 2020
Russia-based high-efficiency heterojunction solar module producer Hevel Group has announced it won 40MW of PV projects in a recent renewables auction in Kazakhstan.
December 14, 2020
The first of Spain’s new clean energy auctions is set to take place next month, with the country’s government allocating a total of 3GW of renewables capacity.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET