IDB, China to help finance 90 MW of wind in Uruguay
Nov 1, 2013 - The Inter-American Development Bank (IDB) said on Thursday it would, together with the Chinese government, extend USD 132.6 million (EUR 98m) in financing for 90 MW of wind projects in Uruguay.
IDB has already approved a USD-88.4-million private sector loan, which will come from the bank’s ordinary capital. The remaining USD 44.2 million will be provided by the China Co-financing Fund for Latin America and the Caribbean.
The offered amount will partly fund construction of the Carape I and II wind parks in the city of Sierra de Carape, southeastern Uruguay. The first wind farm will have a capacity of 50 MW, while the second one will be of 40 MW. The wind complex, which will be powered by 31 turbines made by Danish Vestas Wind Systems A/S’s (CPH:VWS), will be constructed by local firms Vengano SA and Fingano SA, controlled by Corporacion America SA of Argentina and Spanish Grupo San Jose (MAD:GSJ).
When up and running, the parks are expected to produce about 364,700 MWh of electricity each year, enough to meet the demand of over 158,000 people. They are also estimated to save 259,000 tonnes of carbon dioxide (CO2) emissions annually.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.