IDB Invest agrees $1bn loan for largest renewable energy project in Colombia

IDB Invest, the private sector arm of the Inter-American Development Bank, has signed a $1 billion senior, unsecured A/B loan package to Empresas Publicas de Medellín to build a 2,400MW hydropower facility in the northern region of Antioquia, Colombia.

The financing package comprises a $300 million A loan from the IDB Group, as well a $50 million co-loan from the IDB Invest-administered China Co-Financing Fund for Latin America and the Caribbean, and a $650 million B loan from international commercial banks and institutional investors.