The Asian Infrastructure Investment Bank (AIIB) approved a USD10-million equity co-investment alongside Patria Infrastructure Fund V to support the development of the Aguas Pacifico project (Project Aqua). This marks AIIB’s first investment in Chile and aligns with AIIB’s strategy to finance climate mitigation efforts in nonregional Members, particularly those addressing critical water scarcity.
Project Aqua is a multiphase water desalination project under construction in Chile’s central region. Phase I includes the construction of a 1,000 liters-per-second (l/s) desalination plant, a 104 km aqueduct, and an electricity substation. Phase II will double the plant’s capacity to 2,000 l/s. The project was initiated in 2016 by Patria Infrastructure Fund III and is now held by Patria Infrastructure Fund V, of which AIIB is a limited partner alongside a group of co-investors. The Patria Group is a global alternative asset manager with over USD45 billion in assets under management.
Chile is experiencing severe water scarcity, especially in its central and northern regions, where most of the country’s industrial activities are concentrated. These areas contribute 79% of Chile’s GDP, meaning water stress disproportionately impacts its economic output. The persistent, record-low rainfall over the past decade has further worsened the availability of water resources. The project site, in the Valparaiso and Santiago metropolitan regions, lies within the most water-stressed areas in the country.
Once operational, Project Aqua will provide a sustainable infrastructure solution for Chile’s central region. The desalination plant will alleviate water stress in the region and help both residents and industries adapt to climate change by providing them with desalinated water powered by clean, renewable energy.
More information about the project can be found here.
About AIIB
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing Infrastructure for Tomorrow, with sustainability at its core. AIIB began operations in 2016, now has 110 full and approved members worldwide, is capitalized at USD100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
About Patria
Patria Investments Limited is a global alternative asset management firm focused on the mid-market segment, specializing in resilient sectors across select regions. Patria is the leading asset manager in Latin America and has a strong presence in Europe through its extensive network of General Partners relationships. Patria’s on-the-ground presence combines investment leaders, sector experts, company managers, and strategic relationships, allowing it to identify compelling investment opportunities accessible only to those with local proficiency. With 36 years of experience and over USD45 billion in assets under management, Patria consistently delivers attractive returns through long-term investments, while promoting inclusive and sustainable development in the regions where it operates. For more information, visit www.patria.com.
