IDB Fund Invests in Renewable Energy in Chile

IDB6 September 2011: The Multilateral Investment Fund (MIF), part of the Inter-American Development Bank (IDB), will invest up to US$5 million in the Chilean Renovarum Renewable Energy Fund, a project that invests in low-carbon and climate-friendly technologies.

This investment will allow the Fund to invest in clean energy, including up to eight small-scale hydro projects that will add 160 megawatts to the Chilean energy matrix. The MIF seeks to create conducive environments to finance entrepreneurship, and expects to help leverage private capital in support of the Chilean Government's priority of increasing power generation capacity from non-conventional renewable sources. [IDB Press Release]