ANNOUNCEMENT 29 Jun 2020

In June 2020, Inter-American Development Bank (IADB) Invest approved a USD 10 million financing agreement to Bright México Solar Holdings II for the development of residential solar photovoltaic energy projects.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

BID Invest. IADB Invest. "BID Invest impulsa el crecimiento del mercado de energía solar distribuida en México". 29/06/2020. Available at: https://www.idbinvest.org/es/medios-y-prensa/bid-invest-impulsa-el-crecimiento-del-mercado-de-energia-solar-distribuida-en-mexico#

Inception date: 29 Jun 2020 | Removal date: open ended

State loan

On 29 June 2020, Inter-American Development Bank (IADB) Invest and Bright México Solar Holdings II signed a USD 10 million financing agreement to develop residential solar photovoltaic energy projects. 

The complete financial package consists of the USD 10 million loan from IADB funds, as well as another USD 5 million mixed loan from the Canadian Climate Fund to the Private Sector of the Americas (C2F). It will be delivered in local currency with a term of 13 years.

IADB Invest, member of the IADB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. It counts with a portfolio of USD 12.1 billion in assets.

According to the press release, Bright México Solar Holding II forms part of the Bright Group, the last one being a leading residential solar company in Mexico.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED SECTORS

 

AFFECTED PRODUCTS