Isolux Corsan sells wind farm in Argentina

Isolux Corsan has reached an agreement with the companies Sideli, S.A. and Sidsel, S.A. for the sale of developments of the 200 MW Loma Blanca Wind Farm, located in Argentina's Chubut province. The price of the transaction, which includes the four phases of the wind farm, amounts to US$25 million.

As a result of this first operation, Isolux Corsan Group’s have reached an agreement with the company Sideli, S.A. so that it acquires the shares held in Loma Blanca IV wind farm, in operation since July 2013.

In a second transaction, the company Sidsel, S.A. has acquired the shares corresponding to the other three phases of the park. The transaction is pending to receive the approvals of Energía Argentina, S.A. (Enarsa) and Banco Nacion.

Isolux Corsan filed for Court approval of the agreement in late July, approved by an overwhelming majority of banks and bondholders, in order to extend the same conditions to all financial creditors . The group expects to have approval in the coming weeks.