The two financial packages ammount US$216 million. Each package includes:
Both projects will be carried out under the auspices of the Administración de Usinas y Transmisiones Eléctricas (UTE). The two wind farm projects consist of the construction, operation and maintenance of a 70 MW wind farm, related transmission line and civil engineering works including access roads, substation, control station or other works needed to supply the energy produced through a 20 year PPA to be signed with UTE.
Jean-Marc Aboussouan, chief of the Bank’s Infrastructure Division stated:
“These two projects are in line with Uruguay's efforts to significantly increase the proportion of renewable energy within its overall energy matrix, and at the same time they use the innovative element of offering Uruguayan investors a mechanism for participating through the Initial Public Offering.”
The two projects are expected to create a positive impact by generating a total of 614.5 GWh of renewable energy per year, contributing to the diversification of the energy matrix through a reduction of its dependence on fossil fuels.