Cubico completes refinancing of Uruguayan Wind Farm

Renewable energy investor Cubico Sustainable Investments, has announced that it has completed the refinancing of a 50 MW wind farm in Uruguay.

The US$81 million senior project finance debt facility raised has been provided by Caixabank S.A. and Export Development Canada.

The new facility matures in 2032 for a 16 years tenor, extending up to 5.5 years the maturity date of the previous credit facility signed in 2013.

Ricardo Díaz, Head of Americas at Cubico said:

“This transaction allows us to continue to focus on our growth in the region, looking forward to further expanding our portfolio in the coming future. We want to become the long-term partner of choice to support governments and renewable energy developers to fulfil their clean energy ambitions in the region.”

The onshore wind farm is located in the Florida region just outside Montevideo, Uruguay’s capital, and comprises 21 Nordex N117/2400 turbines, and Cubico owns majority of economic interest in the project.

Cubico invests in wind, hydro and solar projects in Uruguay and other main markets in the region such as Peru and Colombia, supporting local and international developers in their efforts to deploy renewable energy projects. It’s long term approach, fund certainty, local expertise and financial flexibility allows Cubico to offer distinctive equity solutions and operational expertise to our partners.