In Uruguay, IDB Invest is supporting renewable energy projects such as La Jacinta (UR-L1092), the country’s first commercial-scale solar photovoltaic power plant. La Jacinta is generating an average of 94,000 megawatt hours of renewable energy per year, helping to displace approximately 60,000 tons of carbon dioxide equivalent emissions as of 2018. Over its useful lifetime, it is projected to displace approximately 454,000 tons. When the project was approved in 2014, there was limited commercial capital available to finance long-term renewable energy assets in Uruguay.

The success of this project helped to spur the development of this industry in the country.  In 2018 IDB Invest arranged a B-bond for la Jacinta  (12077-02), helping to attract additional financing from institutional investors toward the country’s non-conventional renewable energy market. For more information about the La Jacinta B-bond, check out this blog.