To partially fund its wind energy and solar photovoltaic projects in Chile, Acciona has signed a EUR 100 million green loan with Banco Bilbao Vizcaya Argentaria (BBVA).
According to Acciona, green loans are regulated under the same criteria as green bonds: An independent auditor certifies that the project is sustainable.
The long-term loan is funded entirely by BBVA and is structured as a green instrument, meaning it is certified to conform to the “green bond principles” of Vigeo Eiris, an independent rating and research entity.
In 2014, Chile’s National Energy Commission (CNE) awarded a contract via competitive tender to Acciona Energy Chile to supply 600 GWh/year for 15 years to Chilean electricity distributors in the Central Interconnected System (CIS). In another tender held in August 2016, the CNE awarded the company a contract to supply 506 GWh/year for 20 years to distributors in the CIS and the Far North Interconnected System.
Acciona estimates that the wind and solar photovoltaic projects under these contracts will cover the electricity needs of about 550,000 Chilean households.
Photo courtesy of Acciona