KfW IPEX-Bank provides financing for electricity grid in Chile

KfW IPEX-Bank provides USD 100 million to bridge finance investments in four Chilean transmission projects. The borrower is a Chilean subsidiary of the Madrid-based company Celeo, and the financing relates to the transmission lines Nueva Nirivilo-Constitución and Don Goyo-La Ruca as well as to the transmission equipment projects Nuevo Equipo de Compensación Reactiva and Substation El Ruil.

The underlying projects will increase the capacity and stability of the Chilean transmission line grid to conduct the increasing load of renewable energy.

“Having won Celeo as a new customer demonstrates our global financing expertise and specific knowledge in electricity infrastructure finance” says Andreas Ufer, Member of the management Board of KfW IPEX-Bank. “It’s a key ambition for us to make a contribution to global climate protection by supporting the expansion of the infrastructure for renewable energies in all parts of the world.”

Celeo is a Spanish company that develops, invests in and manages energy infrastructure assets. It currently has assets in Spain, Brazil, Chile and Peru, while working on a range of developments in other Latin American markets, primarily focusing on the transmission and generation of renewable energy under Public-Private Partnership programs.