The loan, covered by Spanish Export Credit Agency CESCE, supports the investment in the “Dominica I” wind farm in Mexico.
Enel Green Power SpA (“Enel Green Power”), acting through its fully owned subsidiary Dominica Energia Limpia, S. De R.L. de C.V., has signed a 104 million US dollar loan agreement with Banco Santander as lender, sole lead arranger and agent. The agreement is covered by the Spanish Export Credit Agency (“CESCE”).
The 15-year term loan is secured by a parent company guarantee issued by Enel Green Power. The loan is aimed at supporting the investment executed in the company’s 100 MW “Dominica I” wind farm, which amounts to approximately 196 million US dollars.
The operating wind farm, located in the municipality of Charcas, in the Mexican State of San Luis Potosì, is comprised of 50 turbines of 2 MW each and is capable of producing up to 260 GWh per year.
The loan bears an interest rate in line with the market benchmark and is the second granted to the Enel Green Power Group by Banco Santander with the coverage of CESCE in 2014, increasing the overall amount relating to such loans up to more than 230 million euros.
CESCE’s institutional role involves supporting Spanish component manufacturers, to which Enel Green Power has turned for plant construction and development.
Enel Green Power is the Enel Group company fully dedicated to the development and management of renewable energy sources at the international level, with operations in Europe and the Americas. The company generated over 29 billion kWh in 2013 from water, sun, wind and the Earth’s heat – enough to meet the energy needs of more than 10 million households and avoid the emission of approximately 16 million tonnes of CO2 into the atmosphere. Enel Green Power is a world leader in the sector thanks to its well-balanced generation mix, providing generation volumes well over the sector average. As of September 30th, 2014, the company has an installed capacity of approximately 9,500 MW from a mix of sources including wind, solar, hydroelectric, geothermal, and biomass. The company has about 750 plants operating in 16 countries in Europe and the Americas.