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Enel Green Power: A loan for one of the largest solar power plants in South America, located in Brazil
Project
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Signature date
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Location
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Brazil
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Financing tool
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Financing amount (Euro)
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50000000
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Financing details
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Loan of 50,000,000 EUR
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Customer
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ENEL GREEN POWER ITUVERAVA
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Type of customer
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Company
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Country of headquarters
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Brazil
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Project number
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PBR1057
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Environmental and social ranking
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B+
PROPARCO is supporting the project for the Ituverava photovoltaic power plant via a EUR 90m loan (of which 40m are syndicated). It is located in the State of Bahia and will be the 2nd largest solar power plant in South America, with a capacity to generate up to 550 GWh a year. It will also strengthen Brazil’s power generation.
Client presentation
The client is a subsidiary of ENEL in Brazil, which develops renewable energies.
Project description
This financing is being allocated to the project companies of the Brazilian subsidiary of Enel Green Power. It is contributing to financing the second largest solar power plant in South America, with a nominal capacity of 254 MW.
Project impact
The power plant is located in a rural area of the State of Bahia. It will generate some 515 GWh of electricity a year and contribute to diversifying the country’s energy mix. The power plant will potentially provide access to secure and low-carbon energy to 200,000 people and avoid the emission of some 220,000 teq CO2 a year.
Finally, the project will help create or maintain some 3,800 jobs and should contribute EUR 47m to national GDP over the project life cycle.