Argentina's Genneia closes financing for 78 MW of wind projects

Argentine thermal and renewable energy group Genneia SA last week said it has closed a USD-131-million (EUR 113m) project financing for two wind projects with a combined capacity of about 78 MW.

The complex financing transaction involves Denmark's export credit agency EKF, which provided the majority of the senior debt, and Dutch development bank FMO and Latin American development bank CAF, which participated with long-term uncovered loans. Japanese bank SMBC provided long-term financing under an EKF cover facility and acted as a global coordinator for the deal.

The financing covers the 50-MW Villalonga project in the province of Buenos Aires and 28.35-MW Chubut Norte in the province of Chubut that were awarded to Genneia as part of the first round of Argentina's RenovAr renewable energy auction programme. Genneia signed the contracts with Argentina's Ministry of Mines and Energy for these projects in January 2017.

(USD 1 = EUR 0.865)

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