The Peruvian unit of French energy utility group Engie SA (EPA:ENGI) has signed an up-to-USD-300-million (EUR 290.2m) loan agreement with the Inter-American Development Bank (IDB) and its private sector arm IDB Invest for a 296.4-MW wind project.
Engie Peru said on Wednesday that the loan has an 11-year term. It will cover the costs for the 260-MW Punta Lomitas wind farm, its 36.4-MW expansion and a 60-kilometre power transmission line that will connect the plant to the national grid.
Located in Ica province, Punta Lomitas will feature 57 wind turbines, of which seven will be erected as part of the expansion.
In June 2021, the company secured a USD-150-million loan for Punta Lomitas with a number of financial institutions. Siemens Gamesa Renewable Energy SA will supply 50 units of the SG 5.0-145 turbines, while Spanish engineering and renewables group Abengoa SA will be in charge of the transmission lines for the project, Engie said previously.