The European Investment Bank Provides $150 Million For The Peruvian Solar Wind Project

- Dec 26, 2017-

Recently, the European investment bank (EIB) will provide $150 million to Enel Green PowerPeru, a Peruvian renewable energy company, to build and operate wind farms and solar power plants in the country.

In the first half of 2018, the two projects will be fully operational and will have 312 megawatts of installed capacity.

The photovoltaic project will develop in the mokwa region close to the Chilean border.Once completed, it will help meet the growing demand for electricity in Peru.In addition to environmental benefits, the project will help create local employment opportunities during construction and operation.The European investment bank provides financing for these projects, including in the bank's priority action to assist in addressing climate change environmental policies and promoting the development of strategic projects.

"The agreement is a clear example of the eu investment bank's support for climate change projects in and out of the eu," said the deputy governor of the European investment bank.In fact, we have more resources for this goal than any other multilateral financial institution in the world.This project is the focus of our Latin America.This will likely expand Peru's clean energy production and promote new infrastructure for the benefit of the people."

Enel, renewable energy and director of the global Enel Green Power chief executive added, "the European investment bank to our two projects in Peru's support is our commitment to promote the country's renewable energy development important recognition.Our goal is to create value for the local community and the national energy system to promote sustainable development and diversification of energy structures.To this end, we will continue to promote new projects in Peru.