Celepsa receives a BCP Green Loan worth over USD 26 million

Lima, August 2022– Celepsa, Peru's first electric company to have 100% of its energy certified as renewable, received a green loan from Banco de Crédito BCP. It received US$26.9 million from the bank as a result of this recognition.

"We are proud to have received this green loan because it reflects our commitment to the country's sustainability and decarbonization. This loan will allow us to refinance our line of credit for the construction of our Marañon Hydroelectric Power Plant and continue to focus on transforming the country's energy matrix." Eduardo Herrera, Celepsa's general manager, stated.

Green loans are intended to exclusively finance sustainable projects of entities that contribute to environmental care and help mitigate the negative effects of climate change. Additionally, this loan must be aligned with the Loan Market Association (LMA) Green Lending Principles.

The Pacific Corporate Sustainability (PCS) Second Opinion Report recognized the Celepsa hydroelectric plant's use of renewable resources as being in line with best market practices, which has a positive impact on the achievement of the United Nations' Sustainable Development Goals 7 and 13.

"This sustainable operation will enable Celepsa to be recognized for the positive environmental impact of its Maraon Hydroelectric Power Plant. At BCP, we are clear that we can contribute to sustainability by advising and encouraging our clients to carry out projects like this one." Eduardo Gómez de la Torre Pratt, BCP's Manager of Corporate and International Banking, explained.

Celepsa, in particular, will continue its commitment to reducing its carbon footprint and using sustainable energy for our country by obtaining the Green Loan.

As a result, Celepsa's general manager stated that the loan will help strengthen the generation of renewable electricity from hydroelectric projects. "We are committed to reporting to BCP on the environmental impact metrics in a transparent manner and to making progress toward the Sustainable Development Goals throughout the life of the loan," Herrera concluded.

It is worth noting that, as the first electric company to certify 100% of its energy as renewable to receive this loan, it will remain Peru's main Clean Development Mechanism hydroelectric power plant, displacing an average of more than 270 thousand tons of carbon emissions per year and thus supporting projects that provide clean solutions to contribute to a better future.