MIAMI - June 21, 2017
Solarplaza and the Inter-American Investment Corporation (IIC) convened over 150 international investors, project developers and solar energy experts from more than 30 countries.
The IIC, a member of the IDB Group, has pioneered large-scale solar PV energy financing in Latin America and the Caribbean and plans to approve $1 billion in energy deals in 2017.
The Unlocking Solar Capital LATAM event sought to close the financing gap through knowledge sharing, networking and deal generation opportunities.
Last Thursday, Miami witnessed the first annual Unlocking Solar Capital LATAM event, co-hosted by Solarplaza and the Inter-American Investment Corporation (IIC) and attended by investors, project developers and solar energy experts from more than 30 countries. During the event, attendees explored strategies to overcome financing hurdles in Latin America and the Caribbean and create bankable solar PV projects. The goal was to shape the future of solar power in the region.
IIC’s CEO James P. Scriven and Bloomberg New Energy Finance’s Ana Verana Lima opened the event with discussions covering solar energy segments from utility-scale to distributed generation. Region-specific sessions focused on the latest trends to build market-tailored strategies. “The pace of change in solar PV is exponential, “said Scriven. “For example, when we entered Chile in 2008, the country had less than 20 MW of installed non-conventional renewable energy. We worked with the government to finance the first large-scale solar energy plant and then several others. And now in 2017, Chile may finish the year with 4,000 MW of non-conventional renewable energy.” The IIC also announced that it has $1 billion in energy financing in its pipeline for 2017.
Led by the IIC, which has 16 solar energy projects outstanding in the region valued at over $500 million, the event gathered key representatives from financial institutions, such as Santander and Bank of America Merrill Lynch, and private investment firms, including BlackRock and Becquerel Capital. The conference brought people from the off-grid and on-grid segments together. It was seen as an unprecedented opportunity to convene Latin America and the Caribbean players seeking to revolutionize energy matrices into cleaner and lower-carbon suppliers, one of IIC’s strategic goals.
There was also a discussion featuring perspectives from IIC, Tesla, Bloomberg News Energy Finance and IPD. They shared innovations such as storage solutions, Pay-as-you-go solar energy and electric vehicles.
Solarplaza helps renewable energy professionals become more effective in their business development by providing unique networking opportunities and high-level content, through events, newsletters and its news portal (www.solarplaza.com).
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. www.iic.org