IIC supports the development of the first geothermal power project in South America (News Release)
Inter-American Investment Corporation (IIC) has signed a US$30 million corporate loan facility with Enel Green Power Chile to finance exploratory works for what could be the first geothermal power project in South America—the Cerro Pabellon geothermal power plant in Chile. The loan will be funded by the Clean Technology Fund (CTF), administered by the IIC.
The project, located in the Atacama Desert at an altitude of over 4,500 meters above sea level, consists of three power plants with a combined capacity of 75 MW, an 80-kilometer transmission line and other associated facilities. The loan will finance drilling costs of the exploratory phase, when other sources of financing are typically unavailable.