Bladex and Scotiabank lead US$100 million loan for EGE Haina
Rhea-AI Summary
Bladex and Scotiabank have successfully closed a US$100 million syndicated green loan for EGE Haina, a leading sustainable energy generator in the Dominican Republic. The financing, announced on March 13, 2025, follows the Green Loan Principles (GLP) guidelines and will support EGE Haina's renewable energy assets platform development.
The loan aims to increase renewable energy's share in the Dominican Republic's energy matrix, supporting the company's growth strategy and the country's energy transition. EGE Haina operates a diversified portfolio including wind farms, solar plants, and efficient thermal generation facilities.
The financing adheres to guidelines from the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA), demonstrating both lending institutions' commitment to supporting sustainable projects and economic growth in the region.
Positive
- Successful closing of US$100 million green loan demonstrates strong financing capability
- Strategic expansion into renewable energy assets strengthens market position
- Partnership with major financial institutions (Scotiabank) enhances credibility
- Diversified energy portfolio reduces operational risks
Negative
- None.
Insights
Bladex's co-leadership of a
- Meaningful portfolio diversification beyond Bladex's traditional trade finance focus into longer-term renewable energy infrastructure
- Strengthened relationship with Scotiabank, enhancing potential for future syndication partnerships
- Positioning in Latin America's growing green financing market, estimated to require
$110-120 billion annually through 2030 - Revenue generation through origination fees and interest income
- Enhanced ESG credentials that can potentially improve Bladex's own funding costs
The transaction follows standardized Green Loan Principles, demonstrating Bladex's commitment to recognized sustainability frameworks. While not disclosed what portion remains on Bladex's balance sheet versus syndicated partners, the deal's structure suggests effective risk distribution.
For a bank with a
This deal exemplifies how Bladex is leveraging its regional expertise and relationships to capitalize on Latin America's energy transition while generating multiple revenue streams through sophisticated financial structuring.
The syndicated loan follows the Green Loan Principles (GLP) guidelines of the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA). It reflects the commitment of both entities to support projects that promote the transition to renewable energy, help mitigate climate change and strengthen the energy supply for the country's growth.
PANAMA CITY, March 13, 2025 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) and The Bank of Nova Scotia (Scotiabank) announced the successful closing of a
The proceeds of the syndicated loan will be used to support EGE Haina in the development of its renewable energy assets platform, supporting the company's growth strategy in line with the national objective of increasing the share of renewable energy in the
Jorge Salas, CEO of Bladex, said, "This financing reaffirms our mission to be a key strategic partner in the development of sustainable infrastructure in the region. We are proud to partner with Scotiabank and support EGE Haina in its commitment to energy transition and the generation of cleaner, more efficient energy for the
Gonzalo Gil, CEO of Scotiabank Dominican Republic, said, "we are committed to the
The successful completion of this financing strengthens the relationship between EGE Haina, Bladex and Scotiabank and reaffirms the role of financial institutions in supporting sustainable projects and economic growth in the region.
"The installation of new renewable energy generation is a fundamental pillar of EGE Haina's growth. As such, the Company continues to anchor its financing strategy in green or sustainably labeled capital structures. This financing fits perfectly with our development plans. We are grateful for the support of the financial institutions that strengthen our sustainable energy model," said Rodrigo Varillas, Senior Finance Director of EGE Haina.
EGE Haina is a leader in sustainable energy generation in the country, with a diversified portfolio that includes wind farms, solar plants and efficient thermal generation. With this new financing, under the Green Loan Principles (GLP) guidelines of the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA), the company aims to further strengthen its position as a key player in the decarbonization of the electricity sector and energy security in the
About Bladex:
Bladex is a multinational bank founded in 1979 by the central banks of
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately
About EGE Haina:
EGE Haina is the leading public-private company in the country, one of the most important electricity generators in the
CONTACT:
Warren Bonilla, Head of
E-mail address:
wbonilla@bladex.com
Tel: +507 210-8625
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)
FAQ
What is the value and purpose of Bladex's latest green loan to EGE Haina (BLX)?
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