Enel secures $300 million for investment in Latin America

Italian renewable energy giant Enel Green Power last week signed loan deals for $300 million for investment in Latin America.

Through its Chilean and Mexican subsidiaries, Enel Green Power secured two $150 million credit lines from Spanish bank Banco Bilbao Vizcaya Argentaria’s branches in Chile and Mexico.

Enel said in plans to use the $300 million to partially cover investments renewable energy project investments in both countries.

In Chile, Enel has begun construction on its first solar park in the country, the 36 MW Diego de Almagro facility, in addition to recently connecting to the grid the Talinay and Valle de los Ventos wind farms, both with an installed capacity of 90 MW. It is also constructing Taltal, its biggest wind farm in the country (99 MW), for an investment of some $190 million, and is exploring various concessions in the geothermal sector.

In Mexico, Enel currently has an installed capacity of about 197 MW in Mexico, 144 MW from wind power and 53 MW from hydroelectric sources.

In Latin America, Enel Green Power currently operates renewable energy plants in Mexico, Costa Rica, Guatemala, Panama, Chile and Brazil, with a total installed capacity of 1.08 GW.

The company has an installed capacity of some 8.7 GW worldwide from a mix of sources, including wind, solar, hydroelectric, geothermal and biomass. It currently has about 740 plants operating in 16 countries in Europe and the Americas.