BICE, Santander to co-finance 151 MW Puerto Madryn II wind project in Argentina

BICE and the local unit of Spain's Banco Santander have agreed to co-finance Puerto Madryn II wind farm in Argentina, the second stage of the 222 MW Parque Eolico Madryn (PEMAD) complex. 

Being developed by Genneia SA, the 151 MW wind scheme will be financed through a syndicated loan of US$20 million. The two financial institutions will provide US$10 million each, with a potential to expand the total loan amount to US$70 million.