Latin American utility Enel Colombia will receive $300 million (EUR 274.6 million) in debt financing to support the construction of approximately 486 MW of solar parks and implement grid upgrades aimed at enhancing its resilience.
The European Investment Bank (EIB) announced on Thursday that the loan will be extended in Colombian pesos. The Italian Export Credit Agency, SACE, will provide a guarantee for the financing.
A portion of the loan proceeds will be dedicated to improving and expanding Enel Colombia's distribution business, enabling the company to enhance its power distribution network. This upgrade will facilitate new connections and bolster e-mobility initiatives.
Additionally, funds will be allocated for the Guayepo I and II solar complex, which boasts a capacity of 486.7 MWdc and is located in the department of Atlantico. The installation of this solar complex was completed in September, with some of its output reserved for local brewery Bavaria SA.
