The Inter-American Investment Corporation (IIC) has agreed to offer senior A-loan and a US$25 million B-loan from BBVA to Terna, the largest transmission system operator in Europe.
The financing will build a transmission line between the cities of Melo and Tacuarembó in Uruguay, connecting projects that generate renewable energy for the country's electrical grid.
The financing offers a tenor of 17 years and is key to ensuring the current and future reliability of the national electricity system in Uruguay.
This transaction highlights the importance of updated transmission for the promotion of renewable energy expansions in emerging markets and underscores the IIC’s commitment to mitigating climate change.