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YPF Luz gets USD-150m loan for 120-MW wind project

Wind farm. Author: Dirk Ingo Franke. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

January 15 (Renewables Now) - Argentine power producer YPF Luz announced on Tuesday it will receive USD 150 million (EUR 134.8m) in financing for the construction of a 120-MW wind park at home.

The total investment in the project is estimated at USD 160 million.

The company secured a USD-100-million credit line from Belgian bank BNP Paribas Fortis, with a guarantee from German credit insurer Euler Hermes. The remaining USD 50 million will come in the form of a loan from the United States International Development Finance Corporation (DFC).

Named Canadon Leon, the wind farm is located in Santa Cruz province. With 29 turbines supplied by General Electric (NYSE:GE), it is expected to generate enough power to meet the annual demand of some 150,000 households and offset 312,000 tonnes of carbon dioxide (CO2) emissions per year.

(USD 1 = EUR 0.899)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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