LatinNews Regional Monitor: Brazil & Southern Cone - 27 November 2019

* German state-owned development bank, KfW, has announced that it will provide US$106m in financing for the ‘Andes Renovables’ renewable energy project that is being developed by Irish firm Mainstream Renewable Power in Chile. The US$1.7bn project that involves the construction of wind and solar electricity generation facilities is one the largest renewable energy projects in Latin America. A KfW statement said that with its credit line, the funding for the stage of the project dubbed ‘Cóndor’, which comprises the construction of three wind and solar electricity generation plants with an installed capacity of 571MW, has now been fully secured. Mainstream says that it has secured a total of US$580m in financing for the Andes Renovables project so far and that it expects that the Cóndor phase will come onstream by 2021.

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