The loan will be used to cover part of the investment in EGP’s “Talinay” wind farm in Chile. The wind energy plant has an installed capacity of around 90 MW.
Enel Green Power SpA (“EGP”), acting through its subsidiary Enel Green Power International BV (“EGPI”), has agreed a 12-year loan of 110 million euros with the Danish government’s Export Credit Agency (EKF) and Citigroup, the latter as agent and arranger.
The loan is guaranteed by Enel Green Power.
The overall investment for the completion of the plant totals, approximately, 165 million US dollars.
EKF’s institutional role involves supporting Danish component manufacturers, to which EGP has turned for the construction and development of the plant.
The loan – the third granted to EGP by EKF since October 2011, for a total exposure of approximately 400 million euros – bears an interest rate in line with the market benchmark.
Enel Green Power’s development strategy relies on funding projects through cash flow generation, in combination with external funding only when the latter is long-term and competitively-priced as well as coming from reliable partners.