Wind energy in Argentina, Genneia obtained $ 31 million for the Chubut Norte II wind farm

The leading renewable energy company received the first tranche of a corporate loan granted by the German Development Bank kfW. It will be destined for the Pomona II wind power plants that are already in operation and Chubut Norte II wind farm that is under construction.

The first 31 million dollars over a total amount of US $ 465 million issued by the company Genneia were already pocketed by the company that develops renewable energy ventures throughout the country, but with an epicenter in the province of Chubut.

The news is not minor since, according to Ambito Financiero, it is the last credit abroad unleashed by Genneia, after the complexities generated by the exchange control launched in recent months by the former president of Argentina, Mauricio Macri.

From Genneia they indicated that this disbursement “demonstrates, once again, the trust placed by international entities in Genneia.”
«The loan, of a corporate nature, is the first of its kind for Genneia of a European ECA, for the financing of a project for the MaTER. The company had already received loans from this entity for the development of its Pomona I and Chubut Norte III and IV projects, which are guaranteed by the RenovAr program, ”explains the specialized financial institution.

The Chubut Norte II Wind Farm is currently under construction and is estimated to be operational in September of this year. It will have 6 wind turbines that will add an installed capacity of 27 MW, through which it will generate 117,000 MWh annually, and also for the sale of renewable energy to private companies.

The company stressed that “through this new disbursement, Genneia reaffirms its role as leader in Renewable Energies of Argentina, confirms the confidence of the most important financial actors in the world, and will seek to continue giving energy solutions to important private users through its 4 projects exclusively for MaTER – Rawson III, Villalonga II, Pomona II and Chubut Norte II, with an installed capacity of 66.48 MW ».

The Chubut Norte plant has 4 stages and the first one already produces 28.35 MW. The venture is from Genneia, but in phase III and IV the Pan American Energy oil company will be added, which acquired 49% of these last two tranches.

The Madryn Wind Farm became the largest wind power plant in the country with an installed capacity of 222.3 MW. It produces an equivalent to supply 330,000 homes and had peaks of 300 people working in civil works.

This plant was fully operational on September 26, 2019, when the company inaugurated the second and final stage of entrepreneurship in the city of the Gulf product of the authorization granted by CAMMESA.

The Genneia group spilled 320 million dollars in the Puerto Madryn venture, becoming the largest wind farm in the country and one of the most important in South America.

Also, the Rawson Wind Farm was the first large-scale plant in the country. Until the beginning of 2019 he kept the title of the largest farm in Argentina. It generates 101 MW through 55 wind turbines. The clean energy it produces allows the saving of more than US $ 75 million in fossil fuel imports.

Rawson’s park was the one that led Genneia to the “big leagues” and the data is more than eloquent: It was the first large-scale park to deliver power to SADI in 2012 and the first to provide power to large users.