Baseload, Hydropower

IDB Approves $30 Million Loan for Latin America Renewable Development

A $30 million loan to the Emerging Energy Latin America Fund II from the Inter-American Development Bank will help boost clean technologies and renewable energies, an IDB release says.

The eventual size of the fund is targeted at $150 million and will be used to invest in renewable energy projects and the utility companies that use them. It is a successor to a previous $25.2 million CleanTech Fund, which had a similar focus and was supported by the IDB Multilateral Investment Fund (MIF).

The fund will be managed by Connecticut-based Emerging Energy and Environment LLC (EEE), which specializes in clean energy investments and consulting.