The Latin American Development Bank (CAF) is providing a partial credit guarantee to support Argentina's efforts to increase power generation capacity from wind turbines.
2 November 2011: The Latin American Development Bank (CAF) has announced it will provide a partial credit guarantee of US$50 million to support the US$491 million Loma Blanca wind energy project in Argentina.
The CAF guarantee will help in the issuance of two bonds to support construction of four wind turbines in Trelew, Chubut province, which will add 200 megawatts (MW) of power generation capacity. “Participation in these projects reflects the interest of CAF to support initiatives that increase the supply of energy, particularly through clean energy,” said Álvaro García, CAF Representative Director.
The Loma Blanca project is being constructed by Isolux Corsán Energías Renovables S.A. (Icersa), part of an international consortium of Spanish origin. It is part of the Argentine Government’s Supply Contracts for Electrical Generation from Renewable Energy Sources (GENREN) program, which seeks to increase the country’s national electrical generation capacity by 1,015 MW through wind, biofuels, combustion of urban solid waste, other biomass, micro-hydro, geothermal, solar thermal, biogas and photovoltaic systems. [CAF Press Release] [GENREN website]