International Finance Corporation announce financing for La Castellana wind park

The International Finance Corporation (IFC) announced on Wednesday 22 November that it has closed a financial package for the 99 MW La Castellana wind project in Buenos Aires province. The package includes a US$37 million A loan and US$27 million from IFC’s Managed Co-Lending Portfolio Program (MCPP).

Furthermore, the Inter-American Development Bank Group is providing the project with a total of US$36 million. The project will also benefit from a US$9 million local currency VAT facility from Banco Galicia.

La Castellana is owned by Argentinian power producer Central Puerto SA (BCBA:CEPU). The wind park will be located at a site to the west of Bahia Blanca, a city in the south of the Buenos Aires province. Construction is expected to be completed by April 2018. Once fully in operation, the wind farm will generate approximately 450 GWh of power per year.

Central Puerto signed a power supply contract with the Wholesale Electricity Market Administration Company (CAMMESA) after emerging as one of the winners in the RenovAr 1 tender.