IDB Invest strengthens Uruguay’s national power system with renewable energy production

IDB Invest, a member of the IDB Group, has provided a $67 million financial package for Tealov S.R.L (Tealov), a Uruguayan special purpose company (SPV) sponsored by Invenergy Renewables Global LLC (Invenergy) to develop the Cardal Transmission Project in Uruguay. The financial package includes a $11.5 million loan and a $55.5 million B-bond, acquired in its entirety by Prudential Private Capital, the private capital business of Prudential Financial, Inc. (NYSE:PRU). The proceeds provide resources to support the long-term reliability of the national electricity system in Uruguay and enable increased renewable energy production by expanding the electricity network necessary to deliver energy to the demand centers.