KfW IPEX-Bank has provided US$100 million in bridge finance for four Chilean power transmission projects.

The borrower is a Chilean subsidiary of Madrid-based energy infrastructure developer Celeo. The financing supports the Nueva Nirivilo-Constitución and Don Goyo-La Ruca transmission lines as well as the Nuevo Equipo de Compensación Reactiva and Substation El Ruil transmission equipment projects.

The underlying projects will increase the capacity and stability of the Chilean transmission line grid to conduct the increasing load of renewable energy.

“Having won Celeo as a new customer demonstrates our global financing expertise and specific knowledge in electricity infrastructure finance,” says Andreas Ufer, a member of the management board of KfW IPEX-Bank. “It’s a key ambition for us to make a contribution to global climate protection by supporting the expansion of the infrastructure for renewable energies in all parts of the world.”

Celeo is a Spanish company that develops, invests in and manages energy infrastructure assets. It currently has assets in Spain, Brazil, Chile and Peru, and is working on a range of developments in other Latin American markets, primarily focusing on the transmission and generation of renewable energy under public-private partnership programmes.