IIC approves USD 20m loan for wind farms in Uruguay

Dec 10, 2013 - The Inter-American Investment Corp (IIC) yesterday announced its approval of a loan of up to USD 20 million (EUR 14.5m) to partly finance the construction of two wind farms of combined 90 MW in Uruguay's Maldonado department by local special-purpose firms Fingano SA and Vengano SA.

Up to USD 10 million of the financing will come from Corporacion Interamericana para el Financiamiento de Infraestructura (CIFI), while the remainder will be funded by IIC and China-IIC SME Equity Investment Fund.

Fingano and Vengano will install 50 MW and 40 MW, respectively, in the Sierra Carape mountains. Spanish Grupo San Jose (MAD:GSJ) holds 40% in each wind farm, while the other shareholders are Argentine firms Corporacion America and Contreras Hermanos.

(USD 1= EUR 0.727)

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