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6 posts found.

Selected Category: Latin America

New forestry fund projected to sequester 20 million metric tons of CO2

Finnish development financier Finnfund has committed 10 million USD to a new impact fund for sustainable forestry, the Arbaro Fund (Arbaro). Arbaro is projected to sequester over 20 million metric tons of CO2 in its lifetime and create more than 5,000 jobs in remote areas. Arbaro aims to invest in and actively manage a well-diversified […]

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Finnfund to finance 10 solar power plants in El Salvador

Finnfund has provided a USD 15 million loan for the construction of ten solar power plants in El Salvador, Central America. Power plants are expected to be fully operational in 2019. Together, they will have a capacity of 100 megawatts. The company responsible for the project is Bosforo Ltda de CV, owned by two companies […]

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Finnfund’s initial reaction to the Gaipe Report

On 6 July 2017, FMO and Finnfund finalized their exit from the Agua Zarca project in Honduras. Following the murder of Berta Cáceres, a well-respected human rights activist, FMO and Finnfund publicly expressed the deepest sorrow at her violent death. We have called upon the Honduran authorities for a thorough investigation and continue this call […]

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Finnfund provides funding for 40 MW power plant in Argentina

Finnfund has provided a senior loan facility worth USD 20 million to Methax S.A. for building a power plant in Mendoza, Argentina. The project company Methax is owned by a power investor Grupo Galileo. The power plant is supplied by Wärtsilä. The power plant will generate electricity from liquefied natural gas (LNG) which will be […]

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FMO and Finnfund finalize exit Agua Zarca

Two of the lenders of the Agua Zarca hydropower project in Honduras, FMO (Netherlands Development Finance Institution), Finnfund (Finnish Fund for Industrial Cooperation), together with owner and developer DESA, mutually agreed to end their existing contractual relations. This joint conclusion was reached after extensive consultations with a large number of local and international stakeholders and […]

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Frequently asked questions on the Agua Zarca run-of-river hydroelectric power generation project

The Agua Zarca Project is a proposed small-scale run-of-river hydro-electricity generation scheme of 21MW with an annual energy production of 99GWh. Finnfund has been one of the lenders since 2014. The other lenders of the Agua Zarca Project are the Dutch development finance institution FMO and CABEI (Central American Bank for Economic Integration). Finnfund participates […]

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