KfW IPEX-Bank has announced that it has successfully structured senior debt financing of US$108 million for the 126 MW Bicentinario wind farm in Santa Cruz, Argentina, in partnership with IDB Invest, the private sector-focussed arm of the Inter-American Development Bank (IDB).
The project sponsor is the Argentine company Petroquímica Comodoro Rivadavia S.A. The project has a long-term power purchase agreement (PPA) with Compañía Administradora del Mercado Mayorista Eléctrico Sociedad Anónima for 100 MW. The remaining 26 MW will be sold under a corporate PPA.
KfW IPEX-Bank is providing a tranche of approximately US$58 million backed by Denmark's export credit agency EKF. IDB Invest is contributing US$50 million to the project.
The financing supports the export of technology and know-how from Europe as Denmark-based Vestas Wind Systems A/S won the contract to supply 35 turbines of the type V117 with an individual capacity of 3.6 MW.
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