Invenergy Wind has closed on the acquisition and financing of Campo Palomas Wind Farm, which is currently under construction in the Salto Department of Uruguay.
Invenergy purchased the wind farm from a Uruguayan subsidiary of Abengoa, but Teyma Uruguay, another Abengoa affiliate, will continue to perform the balance-of-plant work. The Inter-American Investment Corp. provided project financing, and DNB acted as the mandated lead arranger and B-loan participant.
The facility will have the capacity to generate 70 MW of power from 35 Vestas V110 – 2.0 MW wind turbines when commercial operation commences in February 2017. The state-owned utility Usinas and Trasmisiones Electricas will be the off-taker/lessor for the full capacity of the wind farm under a long-term lease agreement.
Voltiq, based in Madrid, has advised Invenergy on the debt transaction.