Sunday, August 14

They launch financing in pesos or dollars to install solar panels in SMEs

As explained Ignacio Lorenzo, Head of Global Debt Financing in Santander, the strategic alliance is unprecedented worldwide for the group and Argentina, the first of the countries where it is implemented. “The two companies have a presence in 13 countries on four continents. We have a very definitive map of how to move forward with these initiatives. It is a very great potential, with business opportunities very in line with the sustainability objectives of each of the companies ”, assured the executive during a virtual presentation.

Video Santander – Enel X.mp4

For its part, Juan Erize, general manager of Enel X, recalled that the energeticIt has a presence in 30 countries, with 30 gigawatts installed in renewable energy and plans to multiply it by three in 2030. “We want to help the bank’s clients to use energy more efficiently and create new value in products and services”, he pointed.

“The relationship between companies has more than two years as a customer and suppliers. The bank has already tested some Enel solutions, and this confidence allows it to go to market together. These lines are applicable to many industries, agriculture already uses solar panels. Also the area of ​​transport and logistics, but I would not rule out any area “, added the Enel X executive.


The main way that users contribute energy to the system is through solar panels on their roofs.

As detailed, the loans will not only be destined to the bank’s current clients, but to new potential users, without restriction beyond the credit rating.

Santander will finance up to 70% of the investment, although Lorenzo admitted that “eventually” it can be a little more, if the client deserves it. “The dollar line is only for exporters. Those who cannot take dollars will have the line in pesos at a variable rate or indexed by UVA’s. The repayment of the investment depends on the location of the SME, it can take between two and seven years, but within the useful life of the panels, which is 20 years. The credit has a genuine repayment, because you also have to take into account what you stop paying for the electricity bill “, he indicated.

The two companies valued that 1 kilowatt is a 1,000 investment dollars. “There are no maximum amounts, it will be evaluated with each project. For example, for an SME with 2,000 kW of consumption it could be an investment of US $ 2 million “Lorenzo explained, and clarified that “for now” these lines will not be available for the residential segment. An unheated two-person house needs an electric power of 3,45 kW to support household appliances, while a standard refrigerator consumes 55,16 kWh for about a month.

By 2022 they expect to close at least 50 deals for about $ 35 million. “The amount of panels to be installed requires an internalization of each client to evaluate the project of each one, it depends on whether it has a terrace, is on the first floor or a low floor. We will see how it evolves in the local market and how to continue in the long term, not only for 2022Erize said.

PAG9-SANTANDER-fuchila Mariano.jpg

Mariano fuchila

The agreement is part of Santander’s sustainability strategy that includes an ambitious Climate Action Plan, for the next 10 years, whose main objective is to reduce the carbon footprint from the use of renewable energies, the conservation of more than 6,000 hectares of native forest that act as CO2 sinks, and the Global Inventory of Greenhouse Gases (GHG), from which improvement and efficiency actions are identified and implemented.

Santander has been a client of Enel X since 2018, as of the hiring of UBM – Enel X’s digital platform that provides companies with operational efficiency through the automated management of basic service accounts, such as electricity, water, gas- for its 500 branches in Argentina. Since the beginning of 2021, it has been carrying out an important medium voltage electrical infrastructure work in the Antequera building, one of the most important that the entity has in the city of Buenos Aires.


For its part, Enel X recently won a tender to install lithium battery sets for back-up systems in 11 branches in Santander -in a first stage- to replace the generator sets.

As a complement to the financing of SMEs, there are other energy saving initiatives that can be implemented in local industries. Enel also offer low-consumption intelligent lighting services, mobility solutions, distributed energy services (renewable for self-consumption) and if there is a surplus, with the possibility of selling to distributors, storage in lithium batteries, a digital platform (software) that provides companies with real-time measurement of the levels of water, gas, electricity and waste consumption, and that at the same time provides information on the carbon footprint, to later make efficiency decisions. “With that the first past for the energy transition is given,” the specialists agreed.

signature santander enel.jpg