The European Investment Bank (EIB) is lending €150 million (£119.8m) for projects aimed at tackling climate change in Chile.

It will help finance large and medium-scale renewable energy schemes, including solar, wind and biomass projects as well as transmission lines for transporting clean energy.

The loan is being granted under the EU’s Facility for Energy Sustainability and Security of Supply (ESF).

“The project meets the ESF’s requirements by supporting environmental sustainability, energy security and the development of renewables”, the EIB said.

Chile aims to produce 20% of its energy from renewable sources by 2025.