IDB, KfW to fund 126-MW wind project in Argentina

Vestas turbines. Author: DennisM2.

November 2 (Renewables Now) - The Inter-American Development Bank (IDB) and Germany’s KfW IPEX-Bank will provide a USD-108-million (EUR 94.5m) loan for the construction of a 126-MW wind farm in Argentina’s Santa Cruz province.

The lenders have structured the senior debt financing for the scheme, KfW said on Wednesday. The company that will benefit from the funds is Argentina-based petrochemicals group Petroquimica Comodoro Rivadavia SA.

The construction of the so-called Bicentinario wind farm will be backed by about USD 58 million from KfW, while the remaining USD 50 million will be extended by IDB Invest, the private sector arm of the IDB Group. The loan will also support the export of technology and know-how from Europe as the plant will be equipped with hardware supplied by Denmark’s Vestas Wind Systems A/S (CPH:VWS), KfW said.

To be powered by 35 V117 turbines, each with a capacity of 3.6 MW, the wind park will sell most of its output to Compania Administradora del Mercado Mayorista Electrico Sociedad Anonima. A long-term power purchase agreement (PPA) for 100 MW has already been sealed with the privately-owned firm. The remaining 26 MW will be sold under a separate corporate PPA.

(USD 1.0 = EUR 0.875)

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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.

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