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EIB finances wind and solar energy development in Peru with $150 million

Staff Writer |
The European Investment Bank (EIB) will provide $150 million to renewable energy production company Enel Green Power Perú (a local subsidiary of the Enel Group) to build and operate a wind farm and photovoltaic solar power plant currently under construction in the Andean country.

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The two facilities will have an installed capacity of 312 MW when they enter service (expected for the first half of 2018), strengthening the production and use of clean energy in Peru.

The wind farm will be located in the Nazca region, 470 km to the south of Lima, while the new solar power plant is being built in the Moquegua region, close to the Chilean border.

Their operation will make it possible to meet growing electricity demand in Peru, helping to diversify the country's energy sources. In addition to its environmental benefits, the project will also help create jobs during the construction and operation phases.

The EIB's financing of this project is covered by the Bank's priority action to support environmental policies helping to combat climate change (inside and outside the EU) and facilitate the development of strategic projects.

The project also contributes to implementing the UN Development Goals to help all countries to access clean, sustainable and affordable energy.

The operation is the EU bank's fifth in Peru, where the EIB has to date financed investment projects for a total financing amount of $360 million.

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