FODER - Argentina Renewable Fund Guarantee

Abstract*

The objective of the Renewable Fund Guarantee Project for Argentina is to increase electricity generation capacity from renewable energy sources through private investment in the energy sector. The project has one component: an IBRD guarantee in an aggregate amount of US$480 million to backstop Government’s failure to fund FODER when it should pay a put price to eligible renewable energy sub-projects as a result of IPPs exercising a put option under... Show More

Development Objective

The project development objective is to increase electricity generation capacity from renewable energy sources through private investment in the energy sector.

Key Details

Project Details

Project ID
P159901
Status
Closed
Team Leader
Lucia Spinelli , Ada Karina Bradley
Borrower 2
Finance Ministry (Ministerio de Hacienda),BICE

Country
Argentina
Disclosure Date
February 28, 2017
Approval Date
(as of board presentation)
February 28, 2017
Effective Date
N/A

Total Project Cost 1
US$ 480.00 million
Implementing Agency
Energy Secretariat
Region
Latin America and Caribbean
Fiscal Year 3
2017

Commitment Amount
US$ 0.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
June 30, 2022

Last Stage Reached
BANK APPROVED
Last Update Date
December 19, 2024

Associated Projects
P165085

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change100%
- FY17 - Mitigation100%
FY17 - Energy100%
- FY17 - Energy Policies & Reform100%

FY17 - Finance

FY17 - Finance for Development100%
- FY17 - Infrastructure Finance100%

FY17 - Private Sector Development

FY17 - Business Enabling Environment100%
- FY17 - Investment and Business Climate100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IBRD Guarantee	480.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	N/A
IBRD + IDA Commitment	N/A

Lending Instrument
Grant Amount	N/A
Total Project Cost**	480.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Mar 7, 2019	IBRD-G2460	Fee Charges	827,298.44
Mar 7, 2019	IBRD-G2460	Int Charges	827,298.44
Sep 1, 2019	IBRD-G2460	Int Charges	836,389.60
Sep 1, 2019	IBRD-G2460	Fee Charges	836,389.60
Dec 6, 2017	IBRD-G2460	Fee Charges	1,000,237.60
Dec 6, 2017	IBRD-G2460	Int Charges	1,000,237.60
Dec 6, 2017	IBRD-G2460	Fee Charges	1,198,158.80
Dec 6, 2017	IBRD-G2460	Int Charges	1,198,158.80
Sep 8, 2020	IBRD-G2570	Fee Charges	123,457.82
Sep 8, 2020	IBRD-G2570	Int Charges	123,457.82
Jul 1, 2020	IBRD-G2570	Loan Cancel	185,550,000.00
Jul 1, 2020	IBRD-G2570	Loan Cancel	-185,550,000.00
Jul 1, 2020	IBRD-G2570	Loan Cancel	185,550,000.00
Jul 1, 2020	IBRD-G2570	Loan Cancel	-185,550,000.00
Jul 1, 2020	IBRD-G2460	Loan Cancel	16,116,000.00
Jul 1, 2020	IBRD-G2460	Loan Cancel	-16,116,000.00
May 23, 2020	IBRD-G2460	Loan Cancel	16,116,000.00
Mar 1, 2020	IBRD-G2460	Fee Charges	412.75
Mar 1, 2020	IBRD-G2460	Int Charges	412.75
Mar 1, 2020	IBRD-G2460	Fee Charges	0.01
Mar 1, 2020	IBRD-G2460	Int Charges	0.01
Mar 1, 2020	IBRD-G2460	Fee Charges	824,625.30
Mar 1, 2020	IBRD-G2460	Int Charges	824,625.30
Mar 1, 2020	IBRD-G2570	Fee Charges	226,283.03
Mar 1, 2020	IBRD-G2570	Int Charges	226,283.03
Mar 1, 2020	IBRD-G2570	Fee Charges	11,167.89
Mar 1, 2020	IBRD-G2570	Int Charges	11,167.89
Dec 1, 2019	IBRD-G2570	Fee Charges	237,450.92
Dec 1, 2019	IBRD-G2570	Int Charges	237,450.92
Dec 1, 2019	IBRD-G2460	Fee Charges	825,038.06
Jun 1, 2019	IBRD-G2570	Fee Charges	240,717.97
Jun 1, 2019	IBRD-G2570	Int Charges	240,717.97
Jun 1, 2019	IBRD-G2460	Fee Charges	836,389.60
Jun 1, 2019	IBRD-G2460	Int Charges	836,389.60
Sep 1, 2019	IBRD-G2570	Fee Charges	240,717.97
Sep 1, 2019	IBRD-G2570	Int Charges	240,717.97
Dec 1, 2019	IBRD-G2460	Int Charges	825,038.06
Sep 1, 2018	IBRD-G2460	Fee Charges	682,563.44
Sep 1, 2018	IBRD-G2460	Int Charges	682,563.44
Dec 1, 2018	IBRD-G2460	Fee Charges	713,258.60
Dec 1, 2018	IBRD-G2460	Int Charges	713,258.60
Jan 14, 2019	IBRD-G2570	Loan Cancel	1,560,000.00
Mar 13, 2019	IBRD-G2570	Fee Charges	1,614,860.00
Mar 13, 2019	IBRD-G2570	Int Charges	1,614,860.00
Mar 1, 2018	IBRD-G2460	Fee Charges	112,965.98
Mar 1, 2018	IBRD-G2460	Int Charges	112,965.98
Aug 9, 2017	IBRD-G2460	Loan Cancel	736,500.00
Jul 1, 2018	IBRD-G2460	Fee Charges	765,284.70
Jul 1, 2018	IBRD-G2460	Int Charges	765,284.70
May 31, 2018	IBRD-G2460	Fee Charges	24.99
May 31, 2018	IBRD-G2460	Int Charges	24.99
Dec 13, 2018	IBRD-G2460	Fee Charges	3,114,800.00
Dec 13, 2018	IBRD-G2460	Int Charges	3,114,800.00
Oct 1, 2018	IBRD-G2460	Loan Cancel	63,700,000.00
Mar 2, 2021	IBRD-G2460	Int Charges	787,118.80
Jun 1, 2021	IBRD-G2570	Fee Charges	0.01
Jun 1, 2021	IBRD-G2570	Int Charges	0.01
Jun 1, 2021	IBRD-G2570	Fee Charges	109,190.74
Jun 1, 2021	IBRD-G2570	Int Charges	109,190.74
Jun 1, 2021	IBRD-G2460	Fee Charges	795,768.50
Jun 1, 2021	IBRD-G2460	Int Charges	795,768.50
May 23, 2020	IBRD-G2570	Loan Cancel	185,550,000.00
Dec 1, 2020	IBRD-G2460	Fee Charges	778,469.20
Dec 1, 2020	IBRD-G2460	Int Charges	778,469.20
Dec 1, 2020	IBRD-G2570	Fee Charges	121,104.83
Dec 1, 2020	IBRD-G2570	Int Charges	121,104.83
Jun 4, 2020	IBRD-G2460	Int Charges	769,426.00
Jun 1, 2020	IBRD-G2460	Fee Charges	22,932.22
Jun 1, 2020	IBRD-G2460	Int Charges	22,932.22
Jun 9, 2020	IBRD-G2460	Fee Charges	1,236.06
Jun 9, 2020	IBRD-G2460	Int Charges	1,236.06
Jun 4, 2020	IBRD-G2570	Fee Charges	123,457.82
Jun 4, 2020	IBRD-G2570	Int Charges	123,457.82
Jun 4, 2020	IBRD-G2460	Fee Charges	769,426.00
Sep 1, 2020	IBRD-G2460	Fee Charges	11,580.65
Sep 1, 2020	IBRD-G2460	Int Charges	11,580.65
Jul 1, 2020	IBRD-G2460	Loan Cancel	16,116,000.00
Jul 1, 2020	IBRD-G2460	Loan Cancel	-16,116,000.00
Sep 8, 2020	IBRD-G2460	Fee Charges	782,013.60
Sep 8, 2020	IBRD-G2460	Int Charges	782,013.60
Mar 13, 2019	IBRD-G2570	Fee Charges	855,625.56
Mar 13, 2019	IBRD-G2570	Int Charges	855,625.56
Mar 15, 2018	IBRD-G2570	Loan Commitment	250,000,000.00
Feb 28, 2017	IBRD-G2460	Loan Commitment	480,000,000.00
Mar 1, 2024	IBRD-G2570	Fee Charges	115,148.59
Mar 1, 2024	IBRD-G2570	Int Charges	115,148.59
Jul 26, 2024	IBRD-G2570	Fee Charges	116,733.77
Jul 26, 2024	IBRD-G2570	Int Charges	116,733.77
Mar 1, 2024	IBRD-G2460	Fee Charges	707,270.10
Mar 1, 2024	IBRD-G2460	Int Charges	707,270.10
Mar 1, 2024	IBRD-G2570	Fee Charges	316.34
Mar 1, 2024	IBRD-G2570	Int Charges	316.34
Jul 26, 2024	IBRD-G2460	Fee Charges	715,042.40
Jul 26, 2024	IBRD-G2460	Int Charges	715,042.40
Jan 12, 2024	IBRD-G2460	Fee Charges	707,270.10
Jan 12, 2024	IBRD-G2460	Int Charges	707,270.10
Jan 12, 2024	IBRD-G2570	Fee Charges	115,464.93
Jan 12, 2024	IBRD-G2570	Int Charges	115,464.93
Sep 1, 2023	IBRD-G2570	Int Charges	117,053.59
Jun 1, 2023	IBRD-G2460	Fee Charges	717,001.40
Jun 1, 2023	IBRD-G2460	Int Charges	717,001.40
Jun 1, 2023	IBRD-G2570	Fee Charges	117,053.59
Jun 1, 2023	IBRD-G2570	Int Charges	117,053.59
Mar 2, 2023	IBRD-G2460	Int Charges	709,207.90
Sep 1, 2023	IBRD-G2460	Fee Charges	717,001.40
Sep 1, 2023	IBRD-G2460	Int Charges	717,001.40
Sep 1, 2023	IBRD-G2570	Fee Charges	117,053.59
Sep 1, 2022	IBRD-G2460	Fee Charges	717,001.40
Sep 1, 2022	IBRD-G2460	Int Charges	717,001.40
Sep 1, 2022	IBRD-G2570	Fee Charges	117,053.59
Sep 1, 2022	IBRD-G2570	Int Charges	117,053.59
Dec 1, 2022	IBRD-G2570	Fee Charges	114,508.95
Dec 1, 2022	IBRD-G2570	Int Charges	114,508.95
Mar 2, 2023	IBRD-G2570	Fee Charges	115,781.27
Mar 2, 2023	IBRD-G2570	Int Charges	115,781.27
Mar 2, 2023	IBRD-G2460	Fee Charges	709,207.90
Jan 1, 2022	IBRD-G2460	Loan Cancel	62,500,000.00
Dec 1, 2022	IBRD-G2460	Fee Charges	701,414.40
Dec 1, 2022	IBRD-G2460	Int Charges	701,414.40
Dec 1, 2021	IBRD-G2460	Fee Charges	701,414.40
Dec 1, 2021	IBRD-G2460	Int Charges	701,414.40
Dec 1, 2021	IBRD-G2570	Fee Charges	133,248.67
Dec 1, 2021	IBRD-G2570	Int Charges	133,248.67
Mar 2, 2022	IBRD-G2460	Fee Charges	709,207.90
Mar 2, 2022	IBRD-G2460	Int Charges	709,207.90
Jun 1, 2022	IBRD-G2460	Fee Charges	717,001.40
Jun 1, 2022	IBRD-G2460	Int Charges	717,001.40
Jun 1, 2022	IBRD-G2570	Fee Charges	117,053.59
Jun 1, 2022	IBRD-G2570	Int Charges	117,053.59
May 31, 2022	IBRD-G2570	Loan Cancel	9,500,000.00
Jun 1, 2021	IBRD-G2570	Fee Charges	11,580.65
Jun 1, 2021	IBRD-G2570	Int Charges	11,580.65
Sep 1, 2021	IBRD-G2570	Fee Charges	120,771.40
Sep 1, 2021	IBRD-G2570	Int Charges	120,771.40
Sep 1, 2021	IBRD-G2460	Fee Charges	795,768.50
Sep 1, 2021	IBRD-G2460	Int Charges	795,768.50
Mar 2, 2022	IBRD-G2570	Fee Charges	57,674.41
Mar 2, 2022	IBRD-G2570	Int Charges	57,674.41
Mar 1, 2022	IBRD-G2570	Fee Charges	77,054.80
Mar 1, 2022	IBRD-G2570	Int Charges	77,054.80
Mar 2, 2021	IBRD-G2570	Fee Charges	0.01
Mar 2, 2021	IBRD-G2570	Int Charges	0.01
Mar 2, 2021	IBRD-G2570	Fee Charges	122,450.44
Mar 2, 2021	IBRD-G2570	Int Charges	122,450.44
May 21, 2021	IBRD-G2570	Loan Cancel	4,800,000.00
Mar 2, 2021	IBRD-G2460	Fee Charges	787,118.80

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Procurement	Satisfactory	2022-07-08
Project Management	Satisfactory	2022-07-08
Progress towards achievement of PDO	Satisfactory	2022-07-08
Financial Management	Satisfactory	2022-07-08
Monitoring and Evaluation	Satisfactory	2022-07-08
Overall Implementation Progress (IP)	Satisfactory	2022-07-08

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Generation capacity of energy constructed or rehabilitated Value 0.00 993.00 1638.00
Date February 28, 2017 June 30, 2022 December 1, 2021
Comment
Renewable energy generation capacity (other than hydropower) constructed under the project Value 0.00 993.00 1638.00
Date February 28, 2017 June 30, 2022 December 1, 2021
Comment
Generation capacity of renewable energy constructed Wind (MW) Value 0.00 696.00 881.00
Date February 28, 2017 June 30, 2022 December 1, 2021
Comment
Generation capacity of renewable energy constructed Solar (MW) Value 0.00 294.00 706.00
Date February 28, 2017 June 30, 2022 December 1, 2021
Comment
Generation capacity of renewable energy constructed Mini-hydro Value 0.00 0.00 15.00
Date February 28, 2017 June 30, 2022 December 1, 2021
Comment
Generation capacity of renewable energy constructed – Biogas and Biomass Value 0.00 2.40 20.20
Date February 28, 2017 June 30, 2022 December 1, 2021
Comment
Private capital mobilized (million US$) Value 0.00 1422.67 4294.00
Date February 28, 2017 October 29, 2021 December 1, 2021
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

GHG emissions avoided (million tCO2) Value 0.00 4.32 2.02
Date February 2, 2017 October 29, 2021 December 1, 2021
Comment

Generation capacity of energy constructed or rehabilitated	Value	0.00	993.00	1638.00
	Date	February 28, 2017	June 30, 2022	December 1, 2021
	Comment

Private capital mobilized (million US$)	Value	0.00	1422.67	4294.00
	Date	February 28, 2017	October 29, 2021	December 1, 2021
	Comment

GHG emissions avoided (million tCO2)	Value	0.00	4.32	2.02
	Date	February 2, 2017	October 29, 2021	December 1, 2021
	Comment

FODER - Argentina Renewable Fund Guarantee

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

Detailed Financial Activity as of April 30, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS