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The European Investment Bank (EIB) signed an $87 million (€75 million) loan to partially finance three photovoltaic (PV) solar plants in the Mexican states of Guanajuato and Coahuila, totaling 1,088 MW
.
Among them, the Villanueva project in the city of Viesca, Coahuila, is the largest solar project
in the Americas.
Emma Navarro, Vice President of EIB, commented, "EIB is pleased to support this renewable energy project that provides cleaner energy
to consumers in Mexico.
The EIB is the world's largest multilateral provider of climate finance, with at least 25% of its investments going to climate change
mitigation and adaptation.
This project demonstrates our commitment to
climate finance in the region.
”
In addition to the financing from Enel Group, the financing partners include institutional investors from Mexico and Canada, which together provide 80% of the share capital
.
In addition, Bank of Merciméxico, Caixa, Natixis, Mitsubishi UFJ Financial Group, and the Investment Department of the Inter-American Development Bank also provided financing support
for the project.
These facilities will help Mexico increase installed renewable energy capacity and diversify
the country's energy matrix.
EIB's contribution to the project is funded
by its Climate Action and Environment Fund (CAEF).
Mexico plans to achieve 35% renewable energy by 2024 and 50%
by 2050.
The EIB will support Mexico in achieving its national energy policy goals, particularly those related to the reduction of greenhouse gas emissions
.
The European Investment Bank (EIB) signed an $87 million (€75 million) loan to partially finance three photovoltaic (PV) solar plants in the Mexican states of Guanajuato and Coahuila, totaling 1,088 MW
.
Among them, the Villanueva project in the city of Viesca, Coahuila, is the largest solar project
in the Americas.
Emma Navarro, Vice President of EIB, commented, "EIB is pleased to support this renewable energy project that provides cleaner energy
to consumers in Mexico.
The EIB is the world's largest multilateral provider of climate finance, with at least 25% of its investments going to climate change
mitigation and adaptation.
This project demonstrates our commitment to
climate finance in the region.
”
In addition to the financing from Enel Group, the financing partners include institutional investors from Mexico and Canada, which together provide 80% of the share capital
.
In addition, Bank of Merciméxico, Caixa, Natixis, Mitsubishi UFJ Financial Group, and the Investment Department of the Inter-American Development Bank also provided financing support
for the project.
These facilities will help Mexico increase installed renewable energy capacity and diversify
the country's energy matrix.
EIB's contribution to the project is funded
by its Climate Action and Environment Fund (CAEF).
Mexico plans to achieve 35% renewable energy by 2024 and 50%
by 2050.
The EIB will support Mexico in achieving its national energy policy goals, particularly those related to the reduction of greenhouse gas emissions
.
