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)