IDB Invest and KfW IPEX-Bank have provided a senior debt financing of $108m for the 126MW Bicentinario wind farm in Santa Cruz, Argentina.
KfW IPEX-Bank is providing a tranche of approx. $58m backed by EKF cover. IDB Invest is contributing $50m to the wind farm project.
The financing supports the export of technology and know-how from Europe as Denmark-based Vestas Wind Systems A/S won the contract to supply 35 turbines of the type V117 with an individual capacity of 3.6MW.
Project sponsor is the Argentine company Petroquímica Comodoro Rivadavia. The project has a long-term power purchase agreement (PPA) with Compañía Administradora del Mercado Mayorista Eléctrico Sociedad Anónima for 100MW. The remaining 26MW will be sold under a corporate power purchase agreement.
Source: Company Press Release