ACCIONA signs a EUR 100 million green loan with BBVA to fund solar PV and wind projects in Chile

ACCIONA’s El Romero solar PV plant in the Atacama desert, Chile
ACCIONA’s El Romero solar PV plant in the Atacama desert, Chile

ACCIONA Energía (Sarriguren, Spain) has signed a EUR 100 million "green loan" with Banco Bilbao Vizcaya Argentaria (BBVA, Bilbao, Spain) to partially fund its solar photovoltaic (PV) and wind energy projects in Chile.

"Green loans" are regulated under the same criteria as "green bonds": an independent auditor certifies the contribution to sustainability by the projects they fund.

The long-term loan, one of the first awarded to a Spanish company, is entirely funded by BBVA and structured as a green instrument, certified to conform to the Green Bond Principles by Vigeo Eiris, an independent rating and research entity in the area of ESG (Environmental, Social and Governance).

 

Solar and wind to power about 550,000 Chilean households

Vigeo Eiris considers that ACCIONA's solar PV and wind projects in Chile are sustainable, mitigate change and contribute to the UN Sustainable Development Goals of "Affordable and clean energy" and "Responsible consumption and production".

In 2014, Chile's National Energy Commission (CNE) awarded a contract by competitive tender to ACCIONA Energy Chile to supply 600 GWh/year for 15 years to Chilean electricity distributors in the Central Interconnected System (SIC).

In another tender held in August 2016, the CNE awarded the company a contract to supply 506 GWh/year for 20 years to distributors in the Central Interconnected System (SIC) and the Far North Interconnected System (SING). 

Both contracts were obtained in competition with conventional technologies and evidenced the competitiveness of renewables compared to fossil fuels in the Chilean market.

It is estimated that the projects to be executed by ACCIONA under these contracts using renewable energy (wind and photovoltaic) will cover the electricity needs of about 550,000 Chilean households.

 

 

 

 

 

 

 

 

 

2017-04-21 Courtesy: ACCIONA | solarserver.com © Heindl Server GmbH

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