Acciona gets USD 44.4m in financing for 56.1-MW wind farm in India
(ADPnews) - Dec 27, 2010 - Spanish green energy company Acciona (MCE:ANA) said late last week it had secured long-term financing of INR 2 billion (USD 44.4m/EUR 33.9m) for its 56.1-MW Tuppadahalli wind project in southwestern India.
The financing, provided by Indian Infrastructure Development Finance Co Ltd (BOM:532659), will cover some 60% of the project's costs. The funding bears an amortisation period of 14 years.
Construction of the Tuppadahalli wind farm started in October, with operations to start in 2011. The facility is located in the state of Karnataka and will consist of 34 wind turbines. It will save 127,000 tonnes of carbon dioxide emissions a year. Acciona plans to register it with the clean development mechanism (CDM) of the Kyoto protocol.
The project, Acciona's third wind power plant in India, will boost the company's total installed capacity in the Asian country to 85.8 MW.