MSU Green Energy

Summary of anticipated development impacts

MARKET DEVELOPMENT

Increase the availability and reliability of renewable energy: FinDev Canada’s financing is expected to support the expansion and long-term operation of renewable energy infrastructure in Argentina through the refinancing of the concession of the 1,418 MW Chocón-Arroyito hydroelectric complex and the construction of three solar photovoltaic projects with a combined installed capacity of 182 MW. The transaction will also support the development of a 150 MW/750 MWh battery energy storage system (BESS), which is expected to contribute to grid reliability and facilitate the integration of renewable energy into Argentina’s electricity system.
Support local economic activity: The construction and/or operation of the solar, hydroelectric and BESS assets are expected to support temporary construction and permanent operational jobs across different regions in Argentina.

CLIMATE AND NATURE ACTION

Support climate mitigation and Argentina’s transition to a low-carbon economy

The financed assets are expected to contribute more than 3,000 GWh of renewable electricity generation annually, supporting the supply, reliability and integration of renewable electricity in Argentina’s power system.

CLIMATE AND NATURE ACTION

Support climate mitigation and Argentina’s transition to a low-carbon economy: The financed assets are expected to contribute more than 3,000 GWh of renewable electricity generation annually, supporting the supply, reliability and integration of renewable electricity in Argentina’s power system, while displacing more carbon-intensive sources of generation. Based on the MDBs/IDFC Common Principles for Climate Finance, 100% of FinDev Canada’s financing qualifies as climate mitigation finance.