FMO , FinDev Canada and Proparco , three of the leading development finance institutions from the Netherlands, Canada and France, have confirmed a $100 million syndicated loan for Argentine renewable energy company Genneia .
Financial support for Genneia
With this financing, Genneia strengthens its commitment to the decarbonization of the Argentine energy matrix. The new solar parks will have a total capacity of 270 MW and will supply clean energy to the Renewable Energy Term Market ( MATER ).
FMO has provided $30 million, while FinDev Canada and Proparco have contributed $40 and $30 million, respectively. “We are proud to continue supporting Genneia, a strategic partner driving the transition to renewable energy in Argentina ,” said Huib-Jan de Ruijter, Co-Chief Investment Officer at FMO . This is the fifth loan that FMO has provided to Genneia, underlining the relationship of trust and shared commitment to sustainable development.
The loan is also part of the 2X Challenge , a global initiative that promotes gender equality and economic opportunities for women in emerging markets. The company has strengthened its gender inclusion policies, ensuring that this investment benefits the energy sector and society as a whole.
Scarlett Carré de Malberg, Deputy Director of Lending Operations at Proparco, highlighted: “ Supporting projects like this is essential to ensure reliable and sustainable access to energy, while promoting inclusion and equity .”
FinDev Canada Vice President of Investments Paulo Martelli stressed the importance of this second collaboration with Genneia: “We are excited to strengthen our partnership and contribute to a positive impact in the region .” The energy project has the support of key local players such as Comafi Bank and legal experts, a clear example of how strategic partnerships can change a country’s energy landscape.
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Source and photo: Genneia
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