The Inter-American Development Bank (IDB) has granted a private sector loan of up to $132.6m for Carape I and II wind farms with a total capacity of 90MW in Uruguay.
The bank loan, which includes $88.4m from its ordinary capital and $44.2m from the China Co-financing Fund for Latin America and the Caribbean, will partially finance construction of wind farms in the Sierra de Carape, north of the city of San Carlos, Maldonado.
Vengano and Fingano, special purpose companies owned by Corporacion America and Contreras Hermano and Constructora San Jose, are the developers of the project, which will supply output to state enterprise UTE.
The project calls for the construction of 31 Vestas wind turbines, a 150kV, 39.6km transmission line, substations, civil works, access roads, and other infrastructure need to transmit power to UTE.
The project will have an estimated annual electricity generation of around 364,700MWh, enough to power over 158,000 people and reduce CO2 emissions by an average of 259,000 tons annually.
IDB project team leader Gian Franco Carassale said that the bank financing is important for the development of Carape I and II projects, which will significantly contribute to the success of the Uruguay project.