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Signed $81 million financing agreement for the construction of a 213 kilometer power line between Melo and Tacuarembò
Terna, a company controlled by CDP Reti, reaffirmed its commitment to sustainable energy with a new infrastructure project in Uruguary. The company signed an $81 million project financing agreement to build a 213 kilometer-long 500 kV power line connecting the cities Melo and Tacuarembò in Uruguary’s north. Construction will be financed with the help of the Inter-American Development Bank and Banco Bilbao Vizcaya Argentaria (BBVA).
The new power line will allow for increased production of renewable energy in the South American country, earning the project a “green loan” status from Vigeo Eiris, a company specialized in rating corporate sustainability and management strategies. The initiative is a continuation of Terna’s strategy of combining investments and sustainability to drive growth and value creation.