The Inter-American Development Bank (IDB) has approved a USD 55.7 million loan from its ordinary capital to finance the construction, operation and maintenance of six solar photovoltaic (PV) plants and their related facilities in Uruguay.
The Casablanca and Giacote PV plants will be located in the departments of Paysandú, Salto and Río Negro, with an installed capacity of 69.9 MW.
The China Co-Financing Fund and the Canadian Climate Fund for the Private Sector, both administered by the Bank, will provide additional loans of USD 19.3 million and USD 10 million, respectively.
The PV projects by Sky Solar Holdings Ltd. (Hong Kong, China) and local solar PV developer Lafemir S.A, consists of solar plants located in the departments of Paysandú, Salto and Río Negro in northwestern Uruguay.
With a total installed capacity of 69.9 MW the project will supply an average of 125.4 GWh of solar power annually to the national grid.