IDB Invest and ILX support crucial expansion of renewable energy capacity in Argentina

ILX and IDB Invest (the mandated lead arranger) are financing the expansion of renewable energy infrastructure in Argentina through a loan to Genneia, the leading renewable energy company in the country, which accounts for over 20% of the country’s wind generation and 12% of its solar generation capacity. The transaction contributes to the mobilisation of private capital for renewable energy projects in a market where access to long-term financing remains constrained.

The loan will support Genneia’s expansion strategy and enable the development of four new solar farms across different regions of Argentina: the 129 MW San Juan Sur solar farm; the 180 MW San Rafal solar farm; and two additional solar projects of 20 MW each in Buenos Aires Province. It will also include a battery energy storage system (BESS) project.

The projects will contribute to strengthening and diversifying Argentina’s energy security in a context where the country’s power sector remains highly dependent on fossil fuels and hydropower, leaving the system vulnerable to fuel supply volatility and hydrological variability. By addressing this challenge, the investment plays an important role in supporting the country in advancing the energy transition and achieving long-term sustainable economic growth.

“Partnering with ILX and IDB Invest on this financing marks an important milestone for Genneia and reinforces our commitment to expanding renewable energy in Argentina. We are proud to play a leading role in Argentina’s energy transition and contribute to its sustainable growth,” said Carlos Palazón, CFO at Genneia.

“We are delighted to support a project that advances both climate action and energy security in Argentina. By combining solar generation with battery energy storage, the project helps unlock the country’s vast renewable energy potential while reducing reliance on fossil fuels and increasingly variable hydropower generation. For ILX, it demonstrates how catalytic private capital can support the development of cleaner, more resilient, and more flexible energy systems in emerging markets,” said Luz Martinez, Head of Sustainability at ILX.

This marks ILX’s first renewable energy investment in Argentina, further diversifying its growing portfolio in Latin America. In a market where access to long-term private financing remains constrained by macroeconomic volatility, the investment provides ILX’s investors with unique exposure to a renewable energy project that is crucial to developing the country’s sustainable energy market.

About Genneia
Genneia is Argentina’s leading provider of sustainable energy solutions, accounting for 23% of the country’s total installed capacity, including 21% of installed wind capacity and 26% of solar capacity. The company currently operates eight wind farms and nine solar farms, bringing its total renewable energy capacity to more than 1,785 MW. Through the clean, efficient and competitive energy it generates, Genneia supplies more than 100 corporate customers across a range of industries through Argentina’s MATER market. The company has also consolidated its position as Argentina’s leading issuer of green bonds, with more than US$1.28 billion issued to date.

About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and more than 440 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries

About ILX
ILX Management B.V. (ILX) is an Amsterdam‑based asset manager specialising in private debt investments across Emerging Markets and Developing Economies. ILX mobilises long‑term pension capital by investing in loan participations originated by the Multilateral Development Banks and leading Development Finance Institutions. ILX focuses on SDG and climate‑aligned investments across four priority sectors: energy access and clean energy, sustainable industry and infrastructure, inclusive finance, and food security. The ILX Funds are backed by leading European pension investors and provide a scalable private debt strategy designed to deliver attractive risk‑adjusted returns alongside measurable development and climate impact. Read more information here: ILX Fund – SDG-Focused Emerging Market Private Debt

Media contact: Sofia Vega, Head of Communications, ILX, s.vega@ilxfund.com