Latin America's renewable energy deployment is no longer solely dependent on resource availability, permits, or energy contracts: access to financing has become a key factor determining which projects move forward and which remain on hold . At Energía Estratégica, we conducted a survey of projects announced so far in 2026, revealing an ecosystem where multilateral organizations, development banks, commercial entities, and funds are beginning to distribute—and in many cases share—the risk.
Among the actors analyzed, IDB Invest emerges as one of the institutions with the greatest cross-cutting presence in terms of the number, size, and diversity of its operations . Its involvement ranges from solar and wind farms to green hydrogen, low-emission methanol, and energy infrastructure, while CAF deepens its presence through sovereign financing and regional lines of credit, and IFC focuses on large-scale private operations.
The scale of some operations helps to illustrate the change. IDB Invest coordinated a $420 million debt package for Atome Paraguay's Villeta Project , a facility that will utilize Paraguay's hydroelectric power grid to manufacture fertilizers from green hydrogen. The total planned direct investment is around $650 million.
IDB Invest's own participation amounts to approximately $156 million , through a senior loan, a letter of credit facility, and concessional resources. The structure also includes IFC, the European Investment Bank (EIB), FMO, and the Green Climate Fund, making it one of the clearest examples of how major developments are beginning to require multilateral financial architectures .
Villeta also exemplifies a technological trend. The project anticipates an annual production of approximately 262,460 tons, with nearly 90% destined for export , and is associated with 145 MW of electrical power supply. It is projected to become operational in 2028.
Paraguay is also on the radar of the World Bank , which is working with the country on structuring the tender for its first large-scale solar plant .
IDB Invest expands its operations and Argentina focuses its operations
Argentina has emerged as one of the markets where IDB Invest is most active. Genneia secured initial financing of $185 million, expandable to $320 million, to support new renewable energy developments and infrastructure. The expansion includes, among other assets, the San Rafael (180 MW), San Juan Sur (129 MW), Lincoln (20 MW), and Junín (20 MW) solar parks.
In addition to that operation, there is a $50 million financing for 360Energy , intended for solar projects in Arrecifes, Realicó, La Rioja, Palomar and Córdoba, with the incorporation of storage systems in some assets and interconnection infrastructure.
IDB Invest also approved $20 million for Vientos Bonaerenses III and IV by AES Argentina , two wind farms that will total 99.1 MW through 16 wind turbines, in addition to the works necessary to connect the production to the Argentine Interconnection System.
The regional portfolio doesn't end there. In Colombia, the entity is analyzing $30 million for Wimke , a photovoltaic park by Zelestra Colombia with approximately 99.5 MWp. In Ecuador, the identified financing amounts to $100 million for Villonaco III , a wind farm project of approximately 112 MW developed by Villonacoenergy and sponsored by Grupo Cobra.
Initiatives of a different technological scale are also included. The Mexinol project in Mexico has $300 million in planned funding , although its approval is estimated for December 2026. The facility aims to produce approximately 2.1 million tons of low-emission methanol annually. Meanwhile, the Yacyretá–Aña Cuá hydroelectric expansion has another $300 million in funding.
Panama is also part of the expansion strategy. IDB Invest plans to mobilize up to $1 billion to accelerate investments in the country , within a program that includes different sectors and opportunities related to energy.
CAF, IFC and EIB expand the board
CAF is also accelerating its positioning as a financier of the regional transition. In Bolivia, it formalized a $110 million loan for the 120 MW Chichas solar plant, which will be built by ENDE in Potosí and will become the country's largest photovoltaic installation. The facility will occupy approximately 110 hectares and is expected to generate 279,000 MWh per year , equivalent to the electricity consumption of about 318,000 people.
Colombia is also on the radar. Within the resources planned by CAF for the country between 2026 and 2030, an initial package of nearly $700 million includes regional initiatives, including solar power generation in Antioquia . At the regional level, CAF and the Instituto de Crédito Oficial (ICO) also agreed on a new $300 million line of credit for sustainable and digital projects.
For its part, IFC is taking positions in projects where generation and transmission infrastructure are increasingly intertwined . In Argentina, it is financing PCR for the development of the Olavarría Wind Farm and works on the Bahía Blanca–Abasto corridor. The total investment in the project amounts to US$275 million and includes 29 wind turbines with a capacity of 185.6 MW, as well as a 25-kilometer transmission line.
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This transaction is complemented by another move by IFC in Argentina: a $300 million loan to Central Puerto , earmarked for hydroelectric assets and battery storage projects. This operation expands the institution's presence in the country and reinforces the growing importance of flexible technologies within portfolios financed by multilateral organizations.
The EIB is also looking to expand its exposure in the region. In Mexico, it agreed with the Ministry of Energy to prioritize opportunities in transmission, distribution, and renewable energy generation , while also moving forward with a €150 million loan to Bancomext.
“ As the financial arm of the European Union, the EIB will translate the renewed alliance between the EU and Mexico into concrete investments with social and economic impact ,” said Nadia Calviño, president of the entity.
Mexican Energy Secretary Luz Elena González Escobar added: “ With this alliance with the European Investment Bank, we hope to boost investment in strategic projects for Mexico that will consolidate the country's energy transition .”
The European deployment also extends to Central America. Within the European Union's regional strategy is a €1 billion package aimed at strengthening energy security , a clear indication of the scale of resources Brussels seeks to mobilize for infrastructure and energy transition in the subregion.
Local banking and warehousing: another front in financing
Banco Popular Dominicano closed 2025 with over $600 million in renewable energy financing , linked to more than 20 projects totaling approximately 1,000 MW in operation. According to the data collected, these assets represent about 38.3% of the country's operational renewable energy capacity.
Among the transactions are $120 million for Coastal Solar, $130 million for CEPM Zero, $100 million for Cotoperí I, II and III, $57 million for Pedro Corto, and $48.6 million for Matrisol and Los Negros . The bank also structured green instruments in the Dominican capital market.
The Dominican Republic is also one of the markets where FMO is beginning to place energy storage at the heart of its next investment phase . As the company announced during FES Caribe, it manages a portfolio of approximately $105 million distributed among five renewable energy projects: four solar and one wind; two of the solar projects already have operational batteries.
“ If we close this year with a battery project, 2026 would be an excellent year for us ,” predicted Walter Vargas, FMO Investment Executive.
FMO also maintains operations outside the Dominican market. In Colombia, Solenium raised $40 million to develop 40 mini solar farms , an operation that demonstrates how the institution also participates in smaller-scale renewable energy and distributed generation projects.
Among commercial banks, BBVA also strengthened its exposure to the sector through an agreement with Envision to accelerate the global deployment of renewable energy. Brazil adds another example to this strategy. The bank is participating alongside Acelen in the development of one of the largest sustainable aviation fuel (SAF) plants in Latin America.
Financing is also being channeled toward corporate transactions associated with renewable energy assets. Promigas obtained $300 million to partially finance the acquisition of Zelestra .
A larger-scale case emerged in Mexico, where Cox moved forward with the acquisition of Iberdrola assets for approximately €3.6 billion . To support this strategy, the energy company proposed a bond issue of up to $2 billion in the United States to refinance the acquisition .
The survey ultimately reveals an increasingly diversified financial landscape, yet with a recognizable core of key players . IDB Invest stands out for its technological breadth and project volume; CAF consolidates large public and regional operations; IFC deepens its private project finance portfolio; EIB and FMO gain ground through alliances and strategic niches; while local banks like Popular demonstrate that commercial banking can also achieve significant scale.
The next discussion will focus on how to convert that liquidity into more bankable projects. This theme will be part of FES Government & Investment , a dialogue forum that Future Energy Summit (FES) and the Latin American and Caribbean Energy Organization (OLACDE) will host during the 11th Energy Week, from October 6 to 9, 2026, in Santo Domingo, Dominican Republic . The event will bring together authorities, international organizations, financial institutions, and companies in the sector to discuss three variables that are becoming inseparable for the next wave of regional renewable energy: regulation, investment, and technology .
