$301 million for sunshine and stronger grids: the World Bank's IFC backs clean power for 200,000 people in Mexico and Brazil

The International Finance Corporation, the World Bank Group's private-sector arm, is putting $301 million behind energy company EDP in Latin America: a $222 million loan for a new 200-megawatt solar plant in Mexico, plus upgrades to the electricity network in Brazil. The IFC expects the pair to improve power supply for about 200,000 people, support more than 4,400 jobs, and avoid roughly 297,000 tonnes of carbon-dioxide emissions a year — the output of a mid-sized city of cars. Spain's Instituto de Crédito Oficial is co-financing the wider $444 million package. It is unglamorous, essential work: more clean power generated, and better wires to carry it.

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