Genneia secures financing for Necochea 1 wind project

Genneia has secured a US$51 million loan financing for the construction of its 38 MW Necochea I wind project. 

The financing was arranged by Dutch development bank FMO and Japanese lender SMBC. FMO provided the financing with the support from credit agency EKF for a 15-year loan. The two part loan includes a covered tranche and an uncovered tranche that starts five years after the start of the commercial operation of the project. 

Located in Buenos Aires, the project involves the development of a 38 MW wind farm which is comprised of 11 turbines.