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Genneia has signed to a long-term financing agreement for US$131 million for the construction of the North Chubut III & IV wind farms (141 MW) in Argentina. Both projects were awarded under RenovAr 2.0. Financing is provided at SPVs Vientos Patagónicos SA and Genneia Vientos Sudamericanos SA.
The financing involves a 15-year guaranteed non-recourse loan granted by KfW. The KfW loan is guaranteed by the German Export Credit Agency Euler Hermes.
Both projects are currently under construction near the city of Puerto Madryn in Chubut province. The wind projects feature 31 units of Nordex 4.5-MW wind turbines that supply power to more than 197,000 households.
Genneia scheduled completion of the wind parks in the second quarter of 2020.
