- CIFI structured a US$34.0 million senior loan for the Cancura Wind Farm in Chile, with an expected capacity of 36.6 megawatts.
- The project will produce an annual average of 65,000 megawatt-hours, cutting over 27,000 tons of CO2 emissions and providing energy access to more than 16,000 people.
- This financing underscores CIFI’s commitment to supporting the energy transition in Latin America and the Caribbean.
Panama, December 16 2024 – The Corporación Interamericana para el Financiamiento de Infraestructura (CIFI by its acronym in Spanish), through its subsidiary CIFI Services, S.A., has structured a long-term senior loan of up to US$34.0 million for the construction and operation of the Cancura Wind Farm in Chile. Spearheaded by Windin Capital Fund, an Israel-based investment fund specializing in renewable energy, the project will have an electricity production capacity of 36.6 megawatts.
Strategically located in Angol, Araucanía region, the wind farm benefits from strong average windspeeds. The project includes the construction of a new regulated substation, facilitating the transmission of generated energy and contributing to an annual reduction of approximately 27,000 tons of CO2 through the production of 65,000 MWh of renewable energy.
Clem Bibo, Senior Investment Officer of Structured and Corporate Finance at CIFI, highlighted: “The structuring of this financing reinforces CIFI’s mission to provide innovative and sustainable financial solutions. It is a pleasure to collaborate with partners who share our vision of a cleaner and more efficient future for Latin America.”
In addition to the structuring, CIFI will be providing US$15.6 million to finance the project, alongside other lenders such as responsAbility Access to Clean Power Fund, Banco Internacional de Costa Rica (BICSA), and Triodos Emerging Markets Renewable Energy Fund.
María Vega, Senior Environmental, Social, and Governance Officer at CIFI, commented: “This project not only marks progress in clean energy generation but also signifies a strong commitment to sustainability and positive community impact. Our collaboration aims to maximize social and environmental benefits alongside energy advancements.”
With this financing, CIFI reaffirms its commitment to projects that blend economic viability with positive environmental and social impacts. Construction of the wind farm is set to begin in the first quarter of 2025, with operations expected to commence by June 2026.
About CIFI
CIFI is a non-banking financial institution with over 20 years of experience supporting infrastructure projects in Latin America and the Caribbean. It provides advisory services and solutions for structuring, financing, and asset management to private companies to generate sustainable returns for the benefit of communities and the environment.
About Windin Capital Fund
Windin Capital Fund is an Israeli investment fund founded in 2020. The fund specializes in managing a diverse portfolio across Organisation for Economic Co-operation and Development (OECD) countries, with a strategic focus on renewable energy. Its investment portfolio encompasses onshore wind projects, photovoltaic energy systems, and advanced energy storage solutions, aligning with global efforts to transition toward sustainable energy infrastructure.
