The International Finance Corporation (IFC) announced on Wednesday 22 November that it has closed a financial package for the 99 MW La Castellana wind project in Buenos Aires province. The package includes a US$37 million A loan and US$27 million from IFC’s Managed Co-Lending Portfolio Program (MCPP).
Furthermore, the Inter-American Development Bank Group is providing the project with a total of US$36 million. The project will also benefit from a US$9 million local currency VAT facility from Banco Galicia.
La Castellana is owned by Argentinian power producer Central Puerto SA (BCBA:CEPU). The wind park will be located at a site to the west of Bahia Blanca, a city in the south of the Buenos Aires province. Construction is expected to be completed by April 2018. Once fully in operation, the wind farm will generate approximately 450 GWh of power per year.
Central Puerto signed a power supply contract with the Wholesale Electricity Market Administration Company (CAMMESA) after emerging as one of the winners in the RenovAr 1 tender.
The Ministry of Energy and Mining, under a Resolution of the Ministry of Electric Power No. 926/2017, has awarded nine projects for a total of 1,304 MW.
Read moreThe Ministry of Energy and Mining has opened the tender for Round 2 of the RenovAr Program in order to promote fulfillment of the targets imposed to achieve 8% participation of renewable energy sources in the electricity grid for December 2017, and 20% for 2025.
Read moreThe Inter-American Investment Corporation (IIC), acting on behalf of the IDB Group, has signed a US$104 million financing package for Greenwind S.A., an affiliate of Pampa Energía S.A. and Castlelake L.P., to construct, operate and maintain the 100 MW Corti Wind Farm in Bahía Blanca, province of Buenos Aires, Argentina.
Read moreThe Argentina's province of Jujuy has launched a US$210 million green bond aimed to co-finance the development of the 300 MW Cauchari solar project, which was selected in the first round of Argentina's renewable energy auction, RenovAr 1.
Read moreThe Government of Argentina has launched the RenovAr Ronda 2 national auction, comprising 1,200 MW of renewable energy capacity.
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