Enel X and InfraBridge have received financing for the purchase of more than 400 electric buses as part of their project to promote electric mobility in the city of Bogota, Colombia.

The financing, which consists of two senior loans for an amount in local currency equivalent to approximately US$134 million, was provided by IDB Invest, the UK Sustainable Infrastructure Programme (UK SIP) and BNP Paribas bank. IDB Invest has acted as joint lead bookrunner and joint lead arranger.

The use of these funds will support climate change mitigation, achieving an estimated emission reduction of around 240,000 tonnes of CO2, 3.1 tonnes of particulate pollution and around 5,000 tonnes of nitrogen oxide.

In addition, BID Invest will provide technical advisory services that will improve the useful life of the batteries and the management of their second use.