Argentine renewable energy platform 360 Energy is seeking up to $120 million in syndicated financing led by Dutch development bank FMO to fund new solar projects and refinance existing debt, according to a disclosure seen by DevFiNews.
The move highlights how development lenders are stepping in to provide scarce long-term capital in one of Latin America’s most volatile markets.
The proposed financing would support the construction and operation of three solar photovoltaic projects in Argentina — PSF Arrecifes, Realicó and La Rioja IV — with combined capacity of more than 80 megawatts, alongside battery storage infrastructure aimed at easing pressure on the country’s constrained power grid.
FMO is considering committing up to $40 million as part of the wider loan package, according to project documents.
ALSO READ: FMO plans $60m loan for Egypt’s 900-MW Gulf of Suez wind project
The financing would also refinance short-term debt tied to two other solar parks and help retire bonds maturing in 2027, allowing the company to extend maturities and reduce refinancing risk amid Argentina’s unstable macroeconomic environment.
The borrowers are Argentine project companies controlled by 360 Energy S.A., a solar-focused renewable energy developer with nearly 247 MWp of operating assets across the country under the GENREN, RenovAr and MATER renewable energy programmes.
The company counts Stellantis subsidiary FCA Automobiles Argentina as a minority shareholder.
The deal underscores how development finance institutions continue to play a central role in financing renewable energy projects in frontier and high-risk markets where long-tenor U.S. dollar funding remains limited.
Argentina’s economic instability, high inflation and currency pressures have constrained access to affordable international financing for infrastructure developers.
FMO classified the transaction as Category B+ under its environmental and social framework, citing risks linked to labor regulations, biodiversity impacts, transmission infrastructure and supply-chain due diligence for solar equipment.
The lender said further environmental and social assessments would determine whether biodiversity mitigation measures are needed, particularly for the La Rioja IV project site.
The transaction aligns with FMO’s climate and energy transition strategy, which focuses on scaling renewable energy and grid infrastructure in emerging markets.