EPM secures $1bn IDB Invest loan for 2.4GW Ituango HPP

Colombian utility group Empresas Publicas de Medellin (EPM) has raised a $1 billion facility to part finance the $5.51 billion 2.4GW Ituango hydropower project located on the Cauca River in the northern Colombian region of Antioquia. The 12-year $350 million A tranche comprises $300 million from the IDB Group and a $50 million co-loan from the IDB Invest-administered China Co-Financing Fund for Latin America and the Caribbean. The $650 million B tranche - comprising 12-year and eight-year tenors - is being provided CDPQ, KFW IPEX, BNP Paribas, ICBC, SMBC (also financial adviser), BBVA and Banco Santander.