Madrid, Spain, January 14, 2025 – The International Finance Corporation (IFC), a member of the World Bank Group, has announced a strategic partnership with ACCIONA, a leading global infrastructure company. This collaboration, which aims to advance sustainable infrastructure projects across emerging markets, has started with two major initiatives: decarbonizing Peru’s energy mix and enhancing public transportation in Brazil.
In Peru, IFC will support three of ACCIONA’s power transmission projects designed to strengthen the national grid and integrate renewable energy sources. These include the 220 kV Reque-Nueva Carhuaquero, 220/60 kV Nueva Tumbes, and 220 kV Ica-Poroma initiatives. These projects are vital to Peru's efforts to reduce its reliance on fossil fuels and increase the share of renewables in its energy mix, while meeting the growing energy demand.
In Brazil, the partnership will finance part of São Paulo’s new Metro Line 6, one of the world’s largest public-private partnerships under development in the infrastructure sector. This metro line will connect 600,000 daily passengers from low-income suburbs to the city center, reducing commute times from 1.5 hours to 23 minutes each way, and improving access to essential services such as education and healthcare.
The partnership will include, among other components, a $600 million green and sustainability-linked loan (SLL) to ACCIONA Financiación Filiales, a financing vehicle of the company. The loan will be committed in tranches. The first $380 million, consisting of a $145 million IFC A/B Loan and a $235 million parallel loan equivalent in Euros, mobilizing the European Development Finance Institutions DEG, FMO and Proparco, was signed on December 23 and will be allocated to the above projects in Brazil and Peru. Additional tranches, totaling $220 million, will support other sustainable infrastructure projects in emerging markets.
In addition to green use of proceeds and the SLL structure, which will incentivize ACCIONA to increase the share of capital expenditures in alignment with the EU taxonomy, the loan will also incorporate a local impact indicator. It will be focused on providing essential services to communities in Brazil and Peru, such as connecting households and communities to solar energy, ensuring water supply, and installing photovoltaic systems. This innovative structure is aligned with the ‘Dual Impact’ philosophy of ACCIONA as presented in its Sustainable Impact Financing Framework.
This collaboration contributes to the United Nations’ Sustainable Development Goal 6, supporting clean water and sanitation; Goal 7, ensuring access to affordable, reliable, sustainable, and modern energy for all; as well as Goal 13, incentivizing climate actions. IFC, a leader in sustainability-linked finance, has supported $1.9 trillion in SLLs and bonds globally since 2017, representing 25 percent of the sustainable finance market.
As part of this partnership, IFC also signed an agreement earlier this year with ACCIONA’s hydrogen joint venture with Nordex (ACCIONA & Nordex Green Hydrogen) to conduct an early-stage bankability review of the Alto dos Ventos green hydrogen project in Brazil.
“Supporting global clients to expand beyond their borders while driving sustainability is at the core of our strategy," said Alfonso Garcia Mora, IFC Vice President, Europe, Latin America and the Caribbean. "Our partnership with Acciona will help decarbonize Peru’s energy sector and improve public transportation in Brazil, advancing resilience and sustainable development in the region.”
IFC is at the forefront of private sector-focused development, driving investments in inclusive and resilient infrastructure. Its role includes enabling and supporting private risk capital so partners can scale up renewable energy and phase out fossil fuels. IFC invests in sustainable infrastructure and provides innovative solutions focused on connecting communities, ensuring affordable, reliable, and sustainable energy, and creating equitable job opportunities —all while driving economic growth.
Jose Manuel Entrecanales, chairman and CEO of ACCIONA, said: “We are proud to partner with the IFC to enhance the positive impact of our projects at the local level. Together, we are driving progress by providing communities with essential electricity and water services. This agreement exemplifies the effectiveness of collaborative efforts and our shared commitment to sustainability.”
ACCIONA is committed to sustainability and innovation, with a strong focus on reducing greenhouse gas emissions and promoting resilient infrastructure. This partnership builds on previous collaborations in Mexico, Egypt, and Croatia, and supports ongoing green hydrogen projects in Latin America.
About Acciona
ACCIONA is a global company and a leader in the provision of regenerative solutions for a decarbonized economy. Its business offer includes renewable energy, water treatment and management, eco-efficient transportation and mobility systems, resilient infrastructures, etc. The company has been carbon neutral since 2016. ACCIONA recorded sales of €17 billion in 2023 and has a business presence in more than 40 countries. www.acciona.com
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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