IFC supporting renewable energy projects in Chile
The International Finance Corporation, the private arm of the World Bank, is financing the construction of the Totoral Wind Farm, Chile's first-ever project financed wind farm. That could indicate some financing available for geothermal projects in the country.
Announced late last month, the International Finance Corporation, the private arm of the World Bank, is financing the construction of the Totoral Wind Farm, Chile’s first-ever project financed wind farm.
These are good news and give hope that there will be similar efforts for the geothermal development in the country.
The sourced article also contains these following details that might be of interest: “The Totoral Wind Farm, situated 300 kilometers north of Santiago, will consist of 23 two-megawatt Vestas wind turbines, and is expected to generate an average of 110 gigawatt hours per year of electricity for the Chilean central grid. IFC will invest US$30.75 million for its own account and syndicate US$30.75 million, to be funded by DnB NOR, the leading Norwegian financial services firm.”
With the seafood efforts and its office in Chile, DnB NOR’s activities also now go for renewable projects in the country, which is interesting and promising.