AEI unit obtains USD-45m term-loan for wind project in Nicaragua

(ADPnews) - Nov 12, 2010 - US power and gas firm AEI said today its subsidiary Consorcio Eolico Amayo had secured a USD-45-million (EUR 32.9m) term loan to finance its second phase wind project in Nicaragua.

The 15-year credit was arranged by the Netherlands Development Finance Company (FMO) and the Central American Bank for Economic Integration (CABEI). It includes a USD-42-million senior loan extended by CABEI, FMO, the Danish Export Credit Agency and the Belgian Investment Company for Developing Countries, and a USD-3-million mezzanine loan given by the Access to Energy Fund managed by FMO.

Consorcio Eolico's phase II wind project, located on Nicaragua's southwest Pacific coast, has an installed capacity of 23.1 MW, including 11 Suzlon turbines of 2.1 MW each. The whole wind farm comprising the two phases has a total capacity of 63 MW. The electricity it generates will be sold to local utilities Dissur and Disnorte under 15-year power purchase agreements.

Consorcio Eolico Amayo is a unit of power producer Centrans Energy Services Inc, part of Guatemala's Centrans Group, and Nicaragua's wind projects developer Energia Eolica de Nicaragua SA.

(USD 1 = EUR 0.731)

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