Cubico refinances 50-MW Uruguayan wind farm

Wind turbines and neighbours. Author: Evert Kuiken.

Aug 17 (Renewables Now) - London-based Cubico Sustainable Investments announced on Wednesday it has completed the refinancing of a 50-MW wind farm in Uruguay.

The company raised USD 81 million (EUR 69.2m) in debt from Spanish bank Caixabank SA and credit agency Export Development Canada. The new loan matures in 2032 for a 16 years tenor, extending the maturity date of the previous credit facility signed in 2013.

Consiting of 21 units of N117/2400 turbines supplied by German wind turbine maker Nordex (ETR:NDX1), the onshore wind farm is located in the Florida region, just outside the country's capital. Cubico owns the majority of the plant's economic interest.

This transaction allows the firm to continue focusing its growth in the region, seeking to expand its portfolio in the coming future, Cubico's Head of Americas, Ricardo Diaz, said.

Recently, Cubico also raised USD 450 million in debt, achieving financial closing for 600 MW of green projects in Mexico.

(USD 1 = EUR 0.855)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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