$301 million flows to Latin American sunshine — a solar plant for Mexico, a stronger grid for Brazil

The International Finance Corporation, part of the World Bank Group, is putting $301 million behind cleaner electricity in Latin America with energy company EDP. The larger piece is a $222 million loan for a 200-megawatt solar plant in Mexico, part of a $444 million package shared with Spain's ICO; the rest, about $79 million, modernises EDP's grid in Espírito Santo, Brazil, which serves more than 1.8 million customers. Together the investments are expected to improve electricity access or supply for about 200,000 people, support more than 4,400 jobs and avoid about 297,000 tonnes of CO2-equivalent emissions a year.

SDG 7 · Affordable and clean energy — Mechanism: funding & finance