SoWiTec gets EUR 6m from DEG to build Latin American wind farms

(ADPnews) - Jun 22, 2011 - German development finance institution DEG, part of state-owned bank KfW, said on Tuesday it will lend EUR 6 million (USD 8.6m) to SoWiTec for the construction of nine wind parks in Latin America.

The German renewable energy project developer plans to build wind farms with a combined capacity of up to 1 GW in Argentina, Brazil, Chile, Mexico, Peru and Uruguay.

In addition to financing, DEG will provide its country know-how and access to its local contacts.

Climate protection projects are a priority in DEG's business. In February this year, it set up a joint venture with Energiequelle GmbH and Geo-Net Umweltconsulting GmbH in order to promote wind energy in Thailand.

(EUR 1.0 = USD 1.439)

Choose your newsletter by Renewables Now. Join for free!