Equinor co-invest with YPF Luz for the development of the 120 MW Cañadón León wind farm in Argentina
Equinor and YPF Luz have entered an agreement where a subsidiary of Equinor will subscribe to shares in Luz del León. Luz del León is the company in charge of the 120 MW Cañadón León wind farm project with a total investment of US$190 million and is currently under construction in the province of Santa Cruz in Argentina. The shareholders of YPF Luz are YPF S.A and an affiliate of General Electric.
The agreement establishes that Equinor will have a 50% stake of Luz del León, with an equity contribution of US$30 million. After the subscription and capital integration, YPF Luz and Equinor will jointly control Luz del León, while YPF Luz will be in charge of the operations of the Cañadón León Wind Farm project.
The total installed capacity and power has already been sold to CAMMESA under the RENOVAR 2 Program and to YPF S.A. under a private power purchase agreement for 20 and 15 years respectively.
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