ANNOUNCEMENT 20 Dec 2018

The Argentine Foreign Trade and Investment Bank (BICE by its Spanish acronym) together with the Development Bank of Latin America have announced the allocation of USD 45 million to Canadian Solar Inc. 

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Foreign Trade and Investment Bank of Argentina. Banco de Inversión y Comercio Exterior. Novedades. "RECONOCIMIENTO INTERNACIONAL PARA UN PROYECTO SOLAR FINANCIADO CON UN PRÉSTAMO SINDICADO DE USD 50 MILLONES DE CAF, BICE Y BANCO CIUDAD" Available at: https://www.bice.com.ar/novedades/reconocimiento-internacional-para-un-proyecto-solar-financiado-con-un-prestamo-sindicado-de-usd-50-millones-de-caf-bice-y-banco-ciudad/

Development Bank of Latin America. Banco de Desarrollo de América Latina. Noticias. "CAF, BICE y Banco de la Ciudad financian la Planta Solar Cafayate para promover la producción de energía más limpia en Argentina" de 20 de diciembre de 2018. Available at: https://www.caf.com/es/actualidad/noticias/2018/12/caf-bice-y-banco-de-la-ciudad-financian-la-planta-solar-cafayate-para-promover-la-produccion-de-energia-mas-limpia-en-argentina/

Inception date: 20 Dec 2018 | Removal date: open ended

State loan

On 20 December 2018, the Argentine Foreign Trade and Investment Bank (BICE by its Spanish acronym) has approved a loan of USD 15 million to Canadian Solar Inc., an international solar energy company. 

The objective of the resources is the construction of the Cafayate Solar Plant in Argentina which is expected to generate 240 GWh annually. 

In total, the project is expected to cost USD 75 million.

The loan has a 15-year term and is part of the funds distributed via the RenovAr Program launched by the Argentine Government.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
Inception date: 20 Dec 2018 | Removal date: open ended

State loan

The Development Bank of Latin America has also announced on 20 December 2018, the allocation of USD 30 million to Canadian Solar Inc. for the development of the Cafayate Solar Plant in Argentina. 

The loan has a 15-year term and it is part of a funding package of USD 50 million in which other financial institutions have participated.