Sustainable Finance

Celsia Obtains a USD 140 Million ESG-Related Credit Line

Published on: 7 July 2022 12:38 PM
by KnowESG
tinywow upscale 3318251

Celsia SA, a producer and distributor of electricity in Latin America, has struck a deal with the International Finance Corporation (IFC) to get a revolving credit line of up to USD 140 million (EUR 137.4m) based on environmental, social, and corporate governance (ESG) standards.

Celsia will be eligible for a more competitive interest rate on the financing if it reduces the intensity of its CO2 emissions, said the company.

The maximum period of this credit arrangement is five years.

Celsia stated that the money would allow it to finance the building and/or acquisition of renewable energy projects, make new investments to improve energy services in portions of Colombia and continue to expand its product line for clients.

At the end of 2021, the company had 132 MW of solar power in Colombia, Panama, and Honduras and was actively constructing 260 MW of solar in Colombia. Recent orders for 369 MW of Nordex turbines have been placed for three wind energy projects in Colombia.

Source: Renewables Now

For more sustainable finance news