Spanish alternative energy holding Enhol has partnered with Mexico’s Zener Energias in a new wind farm project in Tamaulipas that requires investment of approximately $100m, Enhol’s director for Spain and Latin America Alfonso Arroyo tells LatinFinance. The company is waiting for regulatory approval and technical specifications to start the development, Arroyo says. In early August, Enhol announced plans to invest $1bn in the Parque Talinay wind farm in Chile, a 10,000-hectare facility located in the city of Ovalle, which will include 243 windmills and is expected to produce 500MW.
Category: Regions
Posted inDaily Brief
Colombia Lifts Capital Controls on Equity
Colombia’s ministry of finance said Monday it has lifted capital controls for foreign investments in equities. Foreigners will no longer have to keep a local deposit worth 50% of their investment in local equities and convertibles for two years. Buyers of local debt, however, are still subject to the deposit, says the ministry, which described capital controls as “transitory” measures. Controls, which were originally ratified June 2007 by congress, have been widely criticized. However, the government has been under pressure locally to stem peso appreciation. Colombia’s main stock indices rose Monday, with Colcap gaining 3.31%, Col20 rising 2.87%, and the IGBC up 3.56%.
Posted inDaily Brief
EIB Targets DomRep MSMEs
The European Investment Bank (EIB) is committing funds to micro, small and medium sized enterprises (MSME) in the Dominican Republic. “Three local banking institutions, Banco ADEMI, Banco ADOPEM and FONDESA will benefit from EIB lines of credit totaling EUR20m and up to EUR2m in equity participations,” says the EIB, which implements EU’s development and economic cooperation policy outside the EU. “EIB funds will be used to finance the banks’ portfolio of loans to the MSME sector,” adds the bank. The EIB has already supported ADEMI and ADOPEM with lines of credit, equity and technical assistance, and says it will consider other microfinance organizations in 2008 and 2009. “We have introduced a high level of flexibility into this facility to address the specific development issues of each organization,” says David Crush, head of the bank’s Caribbean and Pacific division. “We look forward to opening it to other, smaller institutions in the future,” he adds. The EIB has been active in the Dominican Republic since 1992, lending more than EUR195m to support infrastructure, financial services and small and medium sized enterprises.
Posted inMagazine
Andean Special Report: Biofuels in Bloom
Colombia is targeting expansion in biofuels, spurred by an improved business and security environment. Significant investment is urgently needed.
Posted inMagazine
Caribbean Special Report: Castles Made of Sand
The Caribbean struggles to reach critical mass to attract investors as insularities among members persist. The world economic downturn erodes tourism, an economic pillar for the region.
Posted inMagazine
Caribbean Special Report: Breaking a Habit
The Caribbean needs to find ways to break a dependency on oil as a means to fuelling growth. Ethanol and biofuels could be an alternative.
Posted inMagazine
Structured Finance: Back Up Against a Wall
The pipeline for Mexican asset-backed has burst open, spewing forth into the market a deluge of issuers desperate to print. In July and August, planned issuance volume soared well past […]
Posted inMagazine
Caribbean Special Report: A Matter of Scale
As financing for energy flows, projects in infrastructure in the Caribbean lack resources, partly due to small size. However, some jumbo deals are getting through.
Posted inMagazine
CORPORATE GOVERNANCE: Tussle at the Top
Our fourth annual survey of ethics and sustainability at LatAm’s leading banks highlights continued improvement and a fierce battle for leadership. Mexican banks are also stepping up.
Posted inMagazine
Mexico Special Report: In Decreasing Circles
After years of solid growth, the Mexican local markets have hit a wall. Demand and supply of capital are rising steadily, but the flow is not being intermediated.