For this operation, Proparco syndicated the participation of its German counterpart DEG and of several other European development banks through the Interact Climate Change Facility (ICCF). The rest of the financing consists of an export credit tranche provided by KfW IPEX-Bank and Société Générale, guaranteed by Bpifrance Assurance Export.
This is Proparco's fourth transaction with Neoen. This partnership has already resulted in the construction of Providencia Solar and Capella Solar in El Salvador and Paradise Park in Jamaica, which are among the largest solar power plants in Central America.
A strong commitment to support Argentina's ambitious climate objectives
Altiplano 200 will contribute to Argentina's ambitious renewable energy targets (20% of the energy mix in 2025 compared to 2% to date) and contribute to maintaining sustainable reliability and security of electricity production.
By producing electricity at a lower cost than new thermal capacity, this plant demonstrates the competitiveness of renewable energies for emerging countries.
The emission of nearly 4.8M tonnes of CO2 - or 284,000 tonnes per year - should be avoided over the lifespan of the project. Altiplano 200 is also expected to create or maintain more than 2,000 direct and indirect jobs.