The syndicated loan follows the Green Loan Principles (GLP) guidelines of the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA). It reflects the commitment of both entities to support projects that promote the transition to renewable energy, help mitigate climate change and strengthen the energy supply for the country’s growth.
Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) and The Bank of Nova Scotia (Scotiabank) announced the successful closing of a US$100 million syndicated loan for Empresa Generadora de Electricidad Haina (EGE Haina), reaffirming their commitment to the region’s energy transition and sustainable development.
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The proceeds of the syndicated loan will be used to support EGE Haina in the development of its renewable energy assets platform, supporting the company’s growth strategy in line with the national objective of increasing the share of renewable energy in the Dominican Republic’s energy matrix.
Jorge Salas, CEO of Bladex, said, “This financing reaffirms our mission to be a key strategic partner in the development of sustainable infrastructure in the region. We are proud to partner with Scotiabank and support EGE Haina in its commitment to energy transition and the generation of cleaner, more efficient energy for the Dominican Republic.”
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Gonzalo Gil, CEO of Scotiabank Dominican Republic, said, “we are committed to the Dominican Republic and to our customers, to continue helping them grow with a vision of sustainable development.”
The successful completion of this financing strengthens the relationship between EGE Haina, Bladex and Scotiabank and reaffirms the role of financial institutions in supporting sustainable projects and economic growth in the region.
“The installation of new renewable energy generation is a fundamental pillar of EGE Haina’s growth. As such, the Company continues to anchor its financing strategy in green or sustainably labeled capital structures. This financing fits perfectly with our development plans. We are grateful for the support of the financial institutions that strengthen our sustainable energy model,” said Rodrigo Varillas, Senior Finance Director of EGE Haina.
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EGE Haina is a leader in sustainable energy generation in the country, with a diversified portfolio that includes wind farms, solar plants and efficient thermal generation. With this new financing, under the Green Loan Principles (GLP) guidelines of the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA), the company aims to further strengthen its position as a key player in the decarbonization of the electricity sector and energy security in the Dominican Republic.
Source – PR Newswire
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