IDB approves $30 million loan for Latin America renewable development

WASHINGTON, D.C. 1/19/12 (PennWell) — A $30 million loan to the Emerging Energy Latin America Fund II from the Inter-American Development Bank will help boost clean technologies and renewable energies, an IDB release says.

The eventual size of the fund is targeted at $150 million and will be used to invest in renewable energy projects and the utility companies that use them. It is a successor to a previous $25.2 million CleanTech Fund, which had a similar focus and was supported by the IDB Multilateral Investment Fund (MIF).

The fund will be managed by Connecticut-based Emerging Energy and Environment LLC (EEE), which specializes in clean energy investments and consulting.

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