Latin American power giant eyes big bet on green energy

Bloomberg

Electricity utility Interconexion Electrica SA is expanding its network of power transmission lines in Latin America to provide a backbone for the increase in renewable energy in the region.
ISA, as the company is known, will be “aggressive” in bidding on lines connected to renewable generation, which can be funded by the sale of sustainable debt, CEO Bernardo Vargas said.
The investment-grade company has no immediate plans to sell debt, but it is monitoring capital markets in case of opportunities, such as an acquisition, he said.
“Bad times are bad times. But bad times bring opportunities,” Vargas said. “We’re watching debt markets all the time. Typically we look at domestic debt markets, but given the fact that interest rates are where they are, we’re looking at US dollar-denominated in New York.”
ISA, which operates in Colombia, Brazil, Peru, Chile, and Bolivia, is focussed on projects that will connect customers with solar and wind power generators. “In every country we’re looking at renewables,” Vargas said. “The lines are so important because it helps the renewable energy footprint grow. It’s a virtuous cycle”
Countries across Latin America last year committed to getting 70% of their energy from renewable sources by 2030, which will require building out wind, solar and hydro generation parks and connecting them with customers.
Colombia alone is planning
a 30-fold increase in the amount of solar and wind energy it
generates over the next three years.