ENGIE Energía Perú, a power generation and transmission company and a subsidiary of energy firm ENGIE, secured a corporate loan of up to $600 million from the International Finance Corporation (IFC), a member of the World Bank Group, to support the development of its renewable energy projects in Peru.
The first tranche of the loan, totaling $120 million, is structured as a Green and Sustainability-Linked Loan.
The financing will support three renewable energy projects, which include the construction of the 51.7 MW Central Expansión Solar Intipampa project in Moquegua, the refinancing of the 36.8 MW Duna and Huambos wind project in Cajamarca, and part of the 26.5 MW Chilca battery energy storage system located at the ChilcaUno Thermal Power Plant.
“This green and sustainability-linked loan reflects our commitment to developing energy solutions that not only drive economic growth but also promote job creation, climate resilience, and access to clean energy,” said Cheryl Edleson, IFC’s Director for Infrastructure, Energy, and Mining in Europe, Latin America, and the Caribbean. “This is a bold step toward a cleaner, more inclusive energy future for Peru.”
El Mehdi Ben Maalla, Country Manager and CEO of ENGIE Energía Perú, added, “The loan granted by IFC enables us to continue expanding our portfolio of renewable energy projects while meeting the highest local and international standards in risk management, environmental and social impact, resource efficiency, health, and safety. It is a clear sign of trust in our vision for sustainable growth.”
In July, ENGIE North America, a Texas-based electric utility, announced the acquisition of a portfolio of 22 net energy metered solar projects, totaling over 70 MW in Pennsylvania, from Prospect14, a Pennsylvania-based solar project developer. In addition, ENGIE North America announced the completion of more than $1 billion in tax equity financing for 1.3 GW of renewable energy projects in the U.S. in March last year.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
