Hydro, Renewable Energy, Wind

Enel signs $100 million loan agreement to cover renewable power projects

Through its unit Inelec, Enel Green Power signed a $100 million loan agreement with BBVA Bancomer, one of Mexico’s largest banks. Enel has around 197 MW of installed renewable energy capacity in Mexico, with 144 MW coming from wind power and 53 MW coming from hydroelectric power.

The loan is aimed at partially covering the company’s investments in the Mexican state of Oaxaca, according to Power Engineering.

The five-year loan will be disbursed this year at an interest rate in line with the market benchmark and will be backed by a parent company guarantee released by Enel Green Power.