EIB ponders USD-40m loan for Mexican wind project

Wind farm in Mexico. Author: Presidencia de la Rep├║blica Mexicana. License: Creative Commons, Attribution 2.0 Generic.

April 3 (Renewables Now) - The European Investment Bank (EIB) is considering lending USD 40 million (EUR 37.5m) to support the construction of a 199.5-MW wind park in Mexico.

If its board approves the move, EIB will provide the loan to Mexican development bank Nacional Financiera SNC, also known as NAFIN, which in turn will on-lend to “an acceptable corporate”.

The project that could benefit from the loan involves erecting 95 wind turbines of 2.1 MW each and constructing associated infrastructure, including access roads and control centre. The total cost of the project is estimated at USD 351 million.

The objective of the scheme is to help meet the Mexican national target of 35% of electricity generated from renewables by 2024.

Earlier this month, EIB said it is cooperating with NAFIN to potentially set up a credit line for projects combatting climate change, such as solar photovoltaic (PV) and wind power plants, and other renewables.

(USD 1.0 = EUR 0.938)

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