Interenergy company Consorcio Energetico Punta Cana Macao (CEPM) secures green loans from Bank of America and multilateral development banks to advance its ambition to reach net zero by 2030.

InterEnergy’s collaboration with Bank of America and multilateral agencies expands renewable energy and infrastructure solutions in small island developing states. caribbean

sharm el sheikh, Egypt, November 7, 2022 /PRNewswire/ — InterEnergy Group is one of the world’s largest developers, operators and owners of clean energy projects. caribbeancentral and South Americaand Bank of America, one of the world’s leading financial institutions, today announced in Sharm El Sheikh: Egypt and COP27 United Nations Climate Change Conference, its InterEnergy dominican republicConsorcio Energetico Punta Cana Macao (CEPM), a utility company based in San Francisco, has raised the Bank of Secure green loans from the United States and the Multilateral Development Banks (MDBs). Generations up to 2030.

Bank of America Chairman and CEO Brian Moynihan First to announce a collaboration with Interenergy COP26 of Glasgow Last year, we attended the World Summit as part of a sustainable markets initiative founded by His Majesty King Charles III as the former Prince of Wales.

InterEnergy’s partnership with Bank of America includes a first-of-its-kind multi-asset, Includes a multi-jurisdictional warehouse financing facility. Future phases will fund additional technologies such as battery storage, wind power, biomass and green hydrogen that support CEPM’s net-zero goal by 2030 (“CEPM Zero”).

CEPM is one of the world’s leading power companies. dominican republicsupports approximately 65% ​​of the country’s tourism sector, representing over 50,000 hotel rooms and over 50,000 residential and business customers. An estimated 501 MW of renewable energy assets and 120 MWh of storage capacity are required to achieve net zero emissions across the utility portfolio. The green enterprise loan, originated and arranged by BofA, represents the first phase of Bank of America’s partnership with InterEnergy to support the construction of solar and electric vehicle charging infrastructure.

“This deal will help us move forward towards a more sustainable future. dominican republic InterEnergy Group Chairman and CEO Rolando González Bunster said: Electric mobility infrastructure projects in the region. ”

“As the world moves to meet critical net zero carbon emissions targets, it will be critical to ensure access to global banks and capital markets for the financing that emerging markets need to meet their targets. It is important. Karen Fang, Global Head of Sustainable Finance at Bank of America. “This transaction is an important example of the impact that can be gained from a coordinated and blended financing approach that is vulnerable to climate change and has historically lacked access to scalable transition financing capital. We look forward to replicating this in other SIDS and Commonwealth countries.”

Bank of America is the sole structuring agent for the green A/B loans, with MDB acting as the lender of record and sole lead arranger and B lender. The loan has a maturity of three years and the proceeds will be used solely for the construction and operation of renewable energy assets. The deal is expected to be funded in December.

inter energy group
InterEnergy Group is one of the world’s largest diversified clean energy companies. latin america and the caribbeanThe Group operates power plants in this region, in particular in the following regions: dominican republic, Panama, Jamaica, Chile When Uruguay, with a total installed, available, and in development capacity of 2.1GW. InterEnergy plays a key role in Australia’s tourism sector. dominican republic It owns and operates CEPM, an integrated utility serving rapidly growing resort destinations. Punta CanaBavaro, macau, Uvero Alto, Miches, Bayahhibe and La Romana, covering more than 70% of all hotel capacity in the country. InterEnergy is Panamanian Energy sector with Laudato Si Wind Farm, the largest in Central America and the caribbean, a capacity of 215 MW, and a nominal capacity of 40 MW, the Ikakos solar farm uses renewable resources for its 100% supply of energy. Most recently, InterEnergy started construction on the 670 MW natural gas Gatún project. This adds significant base load capacity to the Panama system.

CEPM is a vertically integrated private utility company and a leader in the production and distribution of power and telecommunications services in East Africa. dominican republic, including the tourist regions of Punta Cana Bavaro and Bayahibe. With 315 MW of installed capacity currently available, CEPM provides energy to 65% of the country’s tourism sector (over 50,000 hotel rooms) and over 50,000 residential and business customers.

Bank of america
Bank of America is one of the world’s leading financial institutions, providing a full range of banking, investment, wealth management and other financial and risk management products and services to individual consumers, small businesses and large corporations. doing.The company offers unparalleled convenience usahas award-winning digital banking with approximately 3,900 retail financial centers, approximately 16,000 ATMs, and approximately 56 million verified digital users, serving approximately 68 million consumer and small business clients. increase. Bank of America is a global leader in wealth management, corporate banking, investment banking and trading across a broad range of asset classes, serving businesses, governments, institutions and individuals around the world. Bank of America provides industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves its clients through the following businesses: usa, its territories, and about 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Bank of America has made measurable progress in mobilizing and scaling capital to set concrete sustainable financial goals and drive social and environmental change. In 2021, Bank of America has set a goal of net zero greenhouse gas emissions in its treasury operations, operations and supply chain by 2050. $1.5 trillion with sustainable finance by 2030, approx. $250 billion of capital has been mobilized and deployed in line with the United Nations Sustainable Development Goals in 2021.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America Newsroom and sign up for news email alerts.

Reporters can reach out to:

inter energy
Helena Sentz Espona
Phone: +1.809.284.63.48
[email protected]

bank of america
Sheryl LeeBank of America
Phone: 1.657.234.9950
[email protected]

Source Bank of America Corporation


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