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Central Puerto bags USD 119m in funds for wind project in Argentina

Wind farm. Author: A W.

November 23 (Renewables Now) - Argentina-based power producer Central Puerto SA (BCBA:CEPU) has secured about USD 119 million (EUR 100m) in financing for its 100-MW La Castellana wind project in Buenos Aires province.

The International Finance Corporation (IFC) said on Wednesday that it has closed a financial package to support the scheme, including a USD-37-million A loan and a USD-27-million from IFC’s Managed Co-Lending Portfolio Program (MCPP).

At the same time, the Inter-American Development Bank Group is providing various other facilities totalling USD 36 million. Also, the project will benefit from a USD-19-million local currency VAT facility by Banco Galicia.

The La Castellana wind park will be built at a site to the west of Bahia Blanca by April 2018. The project signed a power supply contract with the Wholesale Electricity Market Administration Company (CAMMESA) after emerging as one of the winners in the RenovAr 1 tender.

Upon completion, the wind farm is expected to generate about 450 GWh of power per year.

(USD 1.0 = EUR 0.844)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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