Montreal (Quebec), 17 August 2026 – Canada’s bilateral development finance institution (DFI), FinDev Canada, and Germany's DFI for the private sector, DEG, announce the purchase of bonds with a par value of USD 50 million each as part of MSU Green Energy S.A.’s (“MSU Green Energy”) USD 530 million green bond issuance. MSU Green Energy is a leading Argentine renewable energy platform focused on hydro, solar, and energy storage projects. This transaction represents FinDev Canada’s first participation in a green bond within its sustainable infrastructure portfolio.
FinDev Canada and DEG, alongside other investors, participated in a USD 130 million tap issuance of MSU Green Energy’s bond originally issued in June 2026. The additional bonds were issued on the same terms as the initial USD 400 million offering, increasing its total size to USD 530 million. This transaction demonstrates the capital markets’ ability to mobilize private investment alongside DFIs. The green bonds will be listed on the Argentine stock market, providing investors the opportunity to trade the bonds after they are issued.
The DFIs’ commitments will finance increased availability and reliability of low-carbon electricity in Argentina by supporting greenfield renewable and energy storage projects, such as the installation of 182 MW of solar capacity and 150 MW of battery energy storage system capacity, and the continued operation of approximately 1.7GW of renewable capacity. Additionally, the commitment aims to support local economic development through construction and operation jobs while contributing to the country’s decarbonization efforts.
Argentina’s growing electricity demand and energy transition are creating significant opportunities to expand renewable generation and energy storage. Investments in this infrastructure will help strengthen the reliability of the electricity system, support economic growth, and mobilize further private investment in the country’s transition toward a more diversified and lower-carbon energy mix. In line with its national energy transition plan, the country requires a total of approximately USD 86 billion in investment by 2030 to expand renewable energy. FinDev Canada and DEG’s commitments aim to bridge this gap, while increasing the availability of clean energy and supporting decarbonization objectives.
The commitment reinforces Canada's development objectives with Argentina and represents an opportunity to advance both countries shared economic prosperity by supporting a more reliable renewable energy system that strengthens economic resilience, attracts investment, and deepens Canada’s relationship with Argentina.
FinDev Canada and DEG are supporting the company’s ongoing efforts to improve its environmental and social standards. This is based on an Environmental and Social Action Plan developed jointly with MSU Green Energy, which further strengthens the company’s implementation of international ESG standards.
“The participation of FinDev Canada and DEG in MSU Green Energy’s green bond marks an important step in expanding climate finance through Argentina’s capital markets. As the first DFIs to invest in the bond, our strategic alignment reflects our shared commitment to advancing financing structures for climate‑focused infrastructure and attracting private sector investments. Together, we are helping accelerate the country’s energy transition while strengthening its capital markets,” said Ariane Ducreux, Director of Sustainable Infrastructure, FinDev Canada.
“With our investment in MSU Green Energy’s green bond, we are supporting the expansion of renewable energy in Argentina. As the first development finance institution to participate in this bond, DEG is joining forces with FinDev Canada to send an important signal for mobilisation of private capital for the country’s energy transition,” commented Petra Kotte, Head of Infrastructure, Energy & German Business at DEG.
“The participation of FinDev Canada and DEG in our green bond reflects the confidence of leading international development finance institutions in MSU Green Energy’s platform and long-term growth strategy. Their investment is an important milestone for MSU, supporting the continued expansion of our renewable energy platform while strengthening our international investor base and our environmental, social and governance standards,” said Hernán Walker, Director and Chief Financial Officer of MSU Green Energy.
About FinDev Canada
FinDev Canada is a development finance institution that invests in emerging markets to deliver development impact, financial returns, and shared economic prosperity. We provide debt, equity, blended finance, technical assistance, and advisory across infrastructure, agribusiness, and the financial industry in developing economies to support development through the private sector. Find out more about FinDev Canada at www.findevcanada.ca.
About MSU Green Energy
MSU Green Energy is Argentina’s largest pure-play renewable power generator, with an integrated platform of approximately 1.7 GW of installed capacity across hydroelectric and solar generation, complemented by battery energy storage projects. The company operates the El Chocón–Arroyito hydroelectric complex and a portfolio of solar power assets across Argentina and has a significant pipeline of ready-to-build projects to continue developing its capacity. MSU Green Energy is part of MSU Group, an Argentine business group with a long-term investment strategy focused on energy and agribusiness.
About DEG
For more than 60 years, DEG has been financing and advising private enterprises operating in developing and emerging-market countries. With a portfolio of around EUR 11.7 billion we’re one of the largest private-sector development financiers. As an impact and climate investor we accompany companies that are addressing transformation and aiming to seize their opportunities. Our customers not only receive financing and advisory solutions tailored to their needs: they can build on our market knowledge, our impact and climate expertise and our international network. In this way, DEG, a subsidiary of KfW, contributes to creating more skilled jobs and local income and to improving value creation on the ground in line with the SDGs. Learn more: www.deginvest.de
Media Contact
FinDev Canada: Media@findevcanada.ca