KfW IPEX-Bank finances Bicentinario wind farm in Argentina
News from 2018-10-31 / KfW IPEX-Bank
IDB Invest and KfW IPEX-Bank successfully structured the senior debt financing of USD 108 M for the 126 MW Bicentinario wind farm in Santa Cruz. KfW IPEX-Bank is providing a tranche of approx. USD 58 million backed by EKF cover. IDB Invest is contributing USD 50 million 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 3.6 MW.
Project sponsor is the Argentine company Petroquímica Comodoro Rivadavia S.A. The project has a long-term power purchase agreement (PPA) with Compañía Administradora del Mercado Mayorista Eléctrico Sociedad Anónima for 100 MW. The remaining 26 MW will be sold under a corporate PPA.