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Genneia, Argentina's leading renewables company, issues record-breaking green bond with support from Proparco and FMO
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Genneia, Argentina’s top renewable energy producer, has reached a major milestone with the successful placement of a USD 400 million international green bond — the largest ever issued in the country. Proparco and FMO played a key role as anchor investors, reaffirming Proparco’s commitment to financing sustainable infrastructure and mobilizing private capital for climate action, development, and gender equality.
Listed on the Buenos Aires Stock Exchange, Genneia’s latest green bond issuance was met with strong investor appetite and heavy oversubscription. The transaction closed at USD 400 million, setting a new national benchmark for green bonds.
As anchor investors, Proparco and FMO (the Dutch development bank) subscribed USD 30 million and USD 60 million respectively. Their early commitment sent a powerful signal to the market, encouraging broader private-sector participation and helping drive the transaction’s success.
Mobilizing private capital
By reinforcing market confidence, Proparco and FMO have helped channel new financing into infrastructure essential to Argentina’s energy transition. Mobilizing private investment lies at the heart of Proparco’s strategy, which aims to attract €1 of private financing for every euro it commits. Proparco is increasingly taking on the role of anchor investor in bond issuances, as recently seen with Ecobank, IHS, CRRH-UEMOA and Axian Telecom.
This operation also builds on the partnership initiated in 2024, when Proparco — together with FMO and FinDev Canada — extended a USD 100 million syndicated loan to accelerate Genneia’s expansion in wind and solar power.It further illustrates two of Proparco's strategic priorities: protecting the planet and reducing inequalities.
Accelerating the energy transition
Genneia has committed to allocating the entirety of the proceeds to green projects, particularly wind and solar infrastructure. This new issuance strengthens the company’s role as a cornerstone of Argentina’s energy transition, helping diversify the national energy mix and reduce greenhouse gas emissions.
Promoting gender equality
The transaction also meets the criteria of the 2X Challenge, an international initiative dedicated to advancing women’s economic empowerment. Genneia stands out for its commitment to gender equality and the inclusion of women across its workforce and governance, contributing to low-carbon, socially responsible development.
Djalal Khimdjee, Deputy CEO of Proparco stated: “This new commitment — symbolically achieved during COP30 — reflects our renewed confidence in Genneia, a key partner in our efforts to advance the energy transition in Latin America. Alongside FMO, we are proud to have helped ensure the success of this issuance as anchor investors. This catalytic role is essential to supporting companies like Genneia, which are structurally transforming their sectors and actively contributing to low-carbon, resilient development.”
“The successful issuance of our Second International Green Bond reaffirms Genneia’s leadership in renewable energy development and our commitment to sustainable financing. The support from FMO and Proparco as anchor investors not only validates our strategy but also reinforces global confidence in Argentina’s energy transition. We are proud to lead this transformation and remain committed to delivering sustainable and affordable energy in our country” mentioned Carlos Palazón, CFO of Genneia.
“Our participation in Genneia’s green bond demonstrates FMO’s commitment to accelerating Argentina’s energy transition,” said Angie Salom, Manager Energy LAC at FMO. “This investment not only strengthens Genneia’s financial resilience but also mobilizes private capital for projects that deliver clean, affordable energy and contribute to global climate goals.”