KfW Ipex-Bank and Helaba Landesbank finance 117.5 MW Peralta wind project

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KfW Ipex-Bank and Helaba Landesbank finance 117.5 MW Peralta wind project

German-based KfW Ipex-Bank and Helaba Landesbak Hessen-Thuringen have committed a financing package of US$160.3 million for the development of the 117.5 MW Peralta wind project in Uruguay.

The loan will be paid out in three tranches and is covered in part by a federal export credit guarantee (Hermes cover).

The Peralta wind farm is located in the municipality of Cuchilla de Peralta in the department of Tacuarembó in central Uruguay. The new farm consists of 50 Enercon E-92 wind turbines featuring a hub height of 108 metres, a rotor diameter of 92 metres and an output of 2350 kW per turbine. The farm's total capacity of 117.5 MW and projected 300 GWh/pa are enough to supply around 150,000 typical Uruguayan households with green energy.

Turbine manufacturer Enercon is involved in the Peralta project as investor, turbine supplier, construction and operation partner. It will also provide long-term servicing for the turbines for more than 15 years.

The generated power is sold to the national energy supplier Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE), which concluded a power purchase agreement for a period of 20 years 

Markus Scheer, member of the Management Board of KfW IPEX-Bank, commebnted:

"GGerman and European wind technology is in demand internationally. This is a great opportunity ‒ both for manufacturers and the environment. As a bank, we do our part in helping ideas and projects take concrete shape." 

The South American country has set ambitious goals for itself. It intends to generate as much as 38% of total domestic electricity production from wind energy by 2017; in mid-2015 this figure was only 13%.

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