KfW IPEX-Bank’s expertise in South America is affirmed: at the beginning of October, three projects financed by KfW IPEX-Bank in Latin America received several awards at this year’s LatinFinance Project & Infrastructure Awards from LatinFinance, an independent information service based in Mexico City.
The LNG-to-Power project “Gás Natural Açu” (GNA1) was awarded two prizes: “Power Financing of the Year” and “Infrastructure Financing of the Year: Brazil”. The project scope financed by KfW IPEX-Bank includes construction of a new gas power plant, conversion of an existing docking quay, completion of a 52-kilometre power line and extension of an existing substation to connect the project to the grid. The project aims to stabilise the regional electricity grid and provide compensation payments for fluctuating grid feed-in for electricity generation from renewable energy sources. The financing consists of two tranches: one with the International Finance Corporation (IFC), in the amount of USD 288 million, concluded in March 2019, and another in the amount of BRL 1.76 billion, signed in December 2018, in an unprecedented partnership between BNDES and KfW IPEX-Bank.
The “Autopista al Mar 1” infrastructure project also received two awards: “Road Financing of the Year” and “Infrastructure Financing of the Year: Andes”. The long-term financing comprises 2.2 trillion Colombian pesos (around USD 713 million), with KfW IPEX-Bank contributing USD 75 million. The project scope provides for the construction of a new motorway between Medellín and Santa Fe de Antioquia, including the construction of a nearly 5 km long tunnel. Maintenance and operation are also being financed by a consortium of banks.
The Fruta del Norte gold mine in Ecuador was selected as KfW IPEX-Bank’s third project to receive recognition and was given the “Mining Financing of the Year” award. As part of a banking consortium consisting of ING, Société Générale, Scotiabank, Natixis, Bank of Montreal and Cat Finance, KfW IPEX-Bank is contributing USD 37.4 million in debt capital. The total investment volume of the project is over USD 1 billion. KfW IPEX-Bank supports securing raw materials through targeted project financing worldwide
The awards attest to KfW IPEX-Bank’s expertise in structuring complex financing transactions and its in-depth understanding of various sectors and Latin American markets.
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