Friday, August 1, 2014

IDB finances photovoltaic solar energy project for private sector in Uruguay

The Inter-American Development Bank (IDB) has approved a $40.9 million loan from its ordinary capital and $25 million from the Canada Climate Fund, which is administered by the Bank, to finance the private sector in Uruguay in the construction, operation and maintenance of a photovoltaic solar energy plant and its related facilities. With a total installed capacity of 64.8MW, the plant will be part of the La Jacinta Solar Energy Project located five kilometers south of Salto in northwest Uruguay. It will supply on average 96 GWh of electricity per year to the national grid, allowing for an easing of Uruguay’s dependence on energy from fossil fuels.

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