Renewables: 230 million dollars on the way to Latin America

    Renewables: 230 million dollars on the way to Latin America

    The European Investment Bank grants a 230 million dollar loan to six Central American countries. They will serve to stimulate investments in renewables for at least 500 million dollars.

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    La European Investment Bank grants a credit from 230 million dollars to six Central American countries. They will serve to stimulate investments in renewables for at least 500 million of dollars.

    The bank's goal is to favor the spread of hydroelectric, wind and geothermal energy and photovoltaics in Honduras, Nicaragua, El Salvador, Guatemala, Costa Rica and Panama. The vehicle will be a maxi loan of 230 million dollars, that is, more 172 million euro.

    "Significant investments are needed to develop the potential of renewable energy and a more efficient use of energy to reduce carbon emissions and provide the energy essential for economic growth - explains the vice president of the European Investment Bank. Magdalena Alvarez-Arza - The EIB is committed to supporting long-term investments in sustainable energy around the world and to enabling investments in low-carbon energy in Central America ”.

    The financial program, which has the Bank for Economic Integration of Central America as a local partner, will lead to investments for 500 million dollars by public and private entities, both in the renewable energy sector and in that of energy efficiency and saving. In this way, the six Central American countries will be able to begin reducing their dependence on fossil fuels.

    This project follows that of 2011, with which the EIB and the Bank for Economic Integration supported the development of hydroelectric power in Costa Rica. Overall, and not only in the renewable energy sector, the EIB has offered financing to America. Latin for 5,7 billion dollars (1,9 billion for energy).



    Peppe Croce

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