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European Investment Bank to fund renewable projects in Central America

Miravalles V - Ormat unit, Costa Rica (source: Ormat Technologies)
Alexander Richter Alexander Richter 28 Aug 2013

The European Investment Bank announces plans to invest up to $230 million into renewable energy projects, among them geothermal projects, in Honduras, Nicaragua, El Salvador, Guatemala, Costa Rica and Panama.

Announced last week, the European Investment Bank will provide $230 million to support investments into renewable energy projects in Central America.

EIB will work with the Central American Bank through a joint program supporting hydropower, wind, geothermal and photovoltaic renewable energy schemes across Honduras, Nicaragua, El Salvador, Guatemala, Costa Rica and Panama.

The European bank said its investment plan would help the region cut back on its use of fossil fuels and curb emissions associated with conventional energy production.

“The European Investment Bank is committed to supporting long-term investment in sustainable energy around the world and enabling low-carbon energy investment in Central America,” EIB Vice President for Latin America Magdalena Alvarez Arza said in a statement.

Source: BN Americas