IDB Group amends loan to support completion of Ituango Hydroelectric Project
The IDB Group has signed an amendment to the corporate loan with Empresas Públicas de Medellín (EPM) to complete the construction of the Ituango Hydroelectric Project, in Colombia.
The amendment was unanimously approved by the seven international lenders who, together with the IDB Group, are financing the project, and will create a path for EPM to continue making disbursements under the loan.
The proceeds will be used by EPM to continue implementing the environmental, social and safety programs necessary to complete the project.
EPM is on track to start the commercial operation of the first of the eight turbines in the project during the second quarter of 2022. Ituango’s project will generate 13,900 GWh per year of clean and renewable energy, which represents approximately 17% of all energy in Colombia.
