Colombian development bank Financiera de Desarrollo Nacional SA (FDN) has approved a senior loan of COP 24 billion (USD 7.1m/EUR 6.3m) for the Bosques de los Llanos 1 solar project sponsored by China’s Changzhou Trina Solar Energy Co Ltd.

The Chinese firm, via its Spanish unit Trina Solar Energy Espana, will build the 19.9-MM/27.2-MWp solar farm in Puerto Gaitan in Colombia’s central department of Meta.

For FDN, this is the first non-conventional renewable energy project to be approved under the project finance model, the development bank said last week.

The park is Trina Solar’s first outing in Colombia. The solar firm presented a project at the country’s first long term renewable energy auction earlier this year. However, the auction concluded without winners due to antitrust concerns.

(COP 1,000 = USD 0.3/EUR 0.26)