The European Investment Bank (EIB), will grant $205.4 million loan to Banco Santander Chile for financing renewable energy projects and attendant grid technology, reports Law 360.
The loan is provided for investing in following growth features like facility for energy sustainability and security of supply, innovative wind technology, solar heat and photovoltaic plants, biomass reactors and transmission.
Chile had set a target of 20 percent renewable power sources for its utilities to be achieved by 2025, according to the news report.