German, Mexican state banks sign MOU to promote renewable energy

first_imgGerman, Mexican state banks sign MOU to promote renewable energyThe agreement between Bancomext, KfW and GIZ has a special focus on solar and on financing large solar PV projects. June 23, 2016 Blanca Díaz López Legal Markets Markets & Policy Share Mexico’s National Bank of Foreign Commerce (Bancomext), the German Development Bank (KfW) and the Germany International Cooperation Agency (GIZ) have signed a memorandum of understanding (MOU) for the promotion of renewable energy, particularly solar energy, according to a Bancomext press release. GIZ currently runs a program for promoting solar energy in Mexico, the “large scale solar energy” (DKTI) program. Bancomext plans to work in the framework of this program by helping financial institutions fund PV projects.Although few large solar projects have been completed in Mexico to date, many are planned. In the first long-term auction, held in March, the nation awarded contracts representing 1.7 GW of solar projects. Meanwhile, Germany is collaborating in the promotion of renewable energy in Mexico. Last April, Bancomext and KfW signed two credit agreements totaling US$190 million for renewable energy and energy efficiency projects.Development and export banks have played an important role in financing many of the first large-scale solar projects in Latin America, most of which are in Chile. By mid-2014, the U.S. government’s Overseas Private Investment Corporation (OPIC), the Inter-American Development Bank and the World Bank had supplied over $1 billion for Chilean solar projects, with OPIC making up most of this.Popular content ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. 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Cracking the case for solid state batteries pv magazine 29 April 2021 pv-magazine-australia.com Scientists in the UK used the latest imaging techniques to visualize and understand the process of dendrite formation an… 123456Leave a Reply Cancel replyPlease be mindful of our community standards.Your email address will not be published. Required fields are marked *CommentName * Email * Website Save my name, email, and website in this browser for the next time I comment. By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. 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