Genneia S.A. (“Genneia”), Argentina’s leading renewable energy developer and generator, entered into a financing agreement with the Inter-American Investment Corporation (“IDB Invest”), a member of the Inter-American Development Bank Group, for an initial amount of US$ 185,000,000, under a structure expandable up to US$ 320,000,000, aimed at financing new renewable generation developments and energy infrastructure projects in the country.
The financing is secured by a security trust administered by Banco Comafi S.A. (the “Trustee”), acting in its capacity as trustee.
This financing will support Genneia’s expansion strategy and enable the development of four new solar parks across different regions of Argentina. These projects include the San Rafael (180 MW) and San Juan Sur (129 MW) solar parks in the Cuyo region, as well as the Lincoln (20 MW) and Junín (20 MW) solar parks in the Province of Buenos Aires.
In addition, the loan will facilitate the installation of a 40 MW battery energy storage system (BESS) at the Maschwitz node, an initiative aimed at enhancing the reliability of the electricity system during peak demand periods and supporting the integration of renewable generation into Argentina’s national grid.
The agreement also includes technical assistance from IDB Invest for the preparation of studies related to the expansion of electricity transmission infrastructure in northern Argentina. These studies are intended to support projects linked to critical minerals, such as lithium and copper. Strengthening energy infrastructure in these regions is key to enabling mining projects located in the Puna and Andean regions to access reliable and competitive sources of energy, an increasingly important factor for their development and access to international markets.
Through this initiative, Genneia reaffirms its commitment to promoting sustainable energy infrastructure, expanding renewable generation capacity in Argentina and advancing the country’s energy transition.
Borrower’s Legal Counsel
Pérez Alati, Grondona, Benites & Arntsen acted as legal counsel to Genneia, with the team led by partner Diego Serrano Redonnet, counsel Nicolás Aberastury, and associates Juan Ignacio Rodríguez Goñi, Tamara Friedenberger and Juan Hernán Bertoni.
Borrower’s In-House Counsel
Genneia was advised by its in-house legal team composed of Eduardo Segura, Matías Julián Fraga, Delfina Aira and Carlos Lovera.
