The European Investment Bank (EIB) on Monday announced the signing of deals for a EUR-300-million (USD 336.9m) renewable energy loan in Brazil and for more than EUR 300 million in climate action finance in Chile.
During the European Union-Community of Latin American and Caribbean States (CELAC) Summit of Heads of State and Government, EIB signed a loan agreement with Banco Santander (Brasil) to support the deployment in Brazil of a series of small-scale solar arrays for self-consumption purposes, totalling 600 MWp. The installations will predominantly take place on rooftops.
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“With these resources, we will be able to support thousands of people and small companies have access to solar energy, and generate clean energy and savings for families across the country,” said Carlos Rey de Vicente, Banco Santander’s Regional Head for South America.
During the same summit, EIB also inked its first-ever residential mortgage-based loan of EUR 200 million to finance access to energy-efficient housing units outside the EU, and announced the approval of a EUR-100-million loan under the Team Europe Renewable Hydrogen Funding Platform for Chile. Under the platform, the bank can provide financing for green hydrogen initiatives in the Latin American country, with Corporacion de Fomento de la Produccion (CORFO) serving as the implementing agency.
At the same time, EIB’s president Werner Hoyer and Chile’s energy minister Diego Pardow signed a declaration focused on the development and sustainable deployment of green hydrogen and derivatives, renewable energies including geothermal, solar and wind, as well as storage technologies, energy efficiency and electromobility.
As previously reported, EIB is also expected to announce loan agreements in Argentina.
(EUR 1.0 = USD 1.123)
