IFC has approved up to $600 million for ENGIE Energía Perú to advance renewable energy projects, including solar, wind, and storage
The first $120 million is structured as a Green and Sustainability-Linked Loan; the loan is tied to specific ESG targets
ENGIE Perú already generates 30% of its output from renewables and has a 1.6 GW development pipeline
The International Finance Corporation (IFC), part of the World Bank Group, has approved a loan of up to $600 million for ENGIE Energía Perú to advance its renewable energy projects in the country.
The funding will support the construction of the 51.7 MW Central Expansión Solar Intipampa Project in Moquegua, refinance the 36.8 MW Duna and Huambos wind farms in Cajamarca, and finance part of the 26.5 MW Chilca-BESS battery storage system at the ChilcaUno Thermal Power Plant.
Of the total corporate loan approved, IFC has structured the initial tranche of the loan, around $120 million, as a Green and Sustainability-Linked Loan.
“The loan granted by IFC enables us to continue expanding our portfolio of renewable energy projects while meeting the highest local and international standards in risk management, environmental and social impact, resource efficiency, health, and safety,” said ENGIE Energía Perú’s Country Manager and CEO, El Mehdi Ben Maalla.
Financing is tied to 3 key performance indicators (KPIs), namely increasing the share of renewable energy in ENGIE Perú’s total installed capacity, implementing site- and asset-specific climate adaptation plans across its facilities, and increasing the representation of women in management positions.
For the Intipampa Solar Power Plant Expansion Project, the company secured a definitive generation concession from the Ministry of Energy and Mines this year. Once completed, combined with the existing Intipampa Solar Power Plant, the entire Intipampa project will expand to 91.7 MW. The new project is expected to enter commercial operations in Q1 2026 and meet the growing energy needs of mining companies in the region.
ENGIE Energía Perú claims renewable energy generation already accounts for 30% of its total output. It also has a development pipeline of more than 1.6 GW of renewable energy capacity in its portfolio. These projects will contribute to the parent company ENGIE’s 95 GW target for 2030 (see Engie Targets 95 GW Renewable Energy Capacity By 2030).