IFC provides $67 million partial credit guarantee to Banco Santander Uruguay for Buquebus' electric ferry project
Type: Financing · Technology: Transport · Country: Uruguay · Capacity: 40 MWh · Value: $67M · Announced: 2026-09-17
The International Finance Corporation (IFC) announced a $67 million partial credit guarantee to support a $107 million loan provided by Banco Santander Uruguay to Buquebus. This financing is intended to fund the project for the China Zorrilla, a 100% electric ferry. The operation was structured as Uruguay's first blue loan and, according to IFC, the first of its kind for electric maritime transport. The ferry, built by Incat Tasmania, has a capacity of over 40 MWh and will cover the Buenos Aires–Colonia–Buenos Aires route. The project also includes new electrical infrastructure in ports, with the Administración Nacional de Puertos (ANP) investing approximately $20 million in Colonia.
Analysis
The International Finance Corporation (IFC) has provided a $67 million partial credit guarantee to Banco Santander Uruguay for Buquebus' electric ferry project, supporting a $107 million loan for the 100% electric ferry China Zorrilla. This financing is structured as Uruguay's first blue loan and the IFC's first for electric maritime transport, with the ferry built by Incat Tasmania. The project includes new electrical infrastructure in ports, with the Administración Nacional de Puertos (ANP) investing approximately $20 million in Colonia. The China Zorrilla has a capacity of over 40 MWh and will operate on the Buenos Aires–Colonia–Buenos Aires route.
Key points
- IFC provides $67 million partial credit guarantee to Banco Santander Uruguay.
- Loan amount for Buquebus' electric ferry project is $107 million.
- The China Zorrilla ferry has a capacity of over 40 MWh.
- ANP is investing approximately $20 million in port infrastructure in Colonia.
- The deal was announced on 2026-09-17.
Counterparties
- Corporación Financiera Internacional (IFC) (Lender)
- Buquebus (Borrower)
- Banco Santander Uruguay (Lender)
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