Uruguay's UTE to fund projects, wind parks with USD 100m debt issue - report
Jun 30, 2014 - Uruguay's government has allowed state-owned power utility UTE to issue debt worth up to USD 100 million (EUR 73.2m) to finance long-term investments, including construction of own wind farms, local daily El Pais said Saturday.
The bonds will mature in 12 years and will be amortised in the last three years.
The issue will cover part of the investments, while the remainder will be financed with loans.
UTE's wind power projects include a 65-MW plant with Brazilian partner Eletrobras (BVMF:ELET6) in Flores department and an additional 400 MW in Flores, Artigas, Treinta y Tres and Tacuarembo.
Uruguay expects to generate 33% of its electricity using wind power in 2016.
Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.