The IDB has approved $55.7m to finance the construction, operation and maintenance of six photovoltaic (PV) solar energy plants and their associated facilities.
The China Co-Financing Fund and the Canadian Climate Fund for the Private Sector will offer additional loans of $19.3m and $10m respectively.
The 82MW project has been sponsored by Sky Solar and local firm Lafemir. It features solar plants situated in the the regions of Paysandú, Salto and RÃo Negro in western Uruguay.
After completion, the project will supply an average of 125.4GWh of energy per annum to the national grid and reduce about 74,000 tons of CO2 emissions.
The PV panels will be installed over fixed steel structures. A joint venture between Lafemir and an unnamed manufacturer will provide those.
Sky Solar chairman and chief executive officer Weili Su said: "We are very pleased to have secured financing from the IDB and its affiliated funds for this major project in Uruguay as we continue to expand our operations and pipeline in the Latin America region.
"Additionally, we continue to make progress on the 9.5 MW (8 MW AC) already under construction in Uruguay and also remain on track to break ground on one of the largest solar projects in Chile during the third quarter of 2015."
