Argentine developer YPF Luz has secured a loan of $150m to help develop and build the 120MW Canadon Leon wind farm in Santa Cruz, Argentina.
The finance comprises $100m from BNP Paribas Fortis with a guarantee from German export credit agency Euler Hermes and $50m from the US International Development Finance Corporation.
In total, the wind farm will cost $160m, the company said.
YPF Luz added that 33 blades and 40 tower sections are arriving at Puerto Deseado that will be part of the project’s 29 GE 4.2MW turbines.
Some 400 jobs will be created during peak construction of the wind farm, which will cover 1870 hectares of land.
The project will sell 99MW of electricity on to the wholesale electricity market, with 21MW for large industrial consumers in Argentina.
YPF Luz president Guillermo Nielsen said: “This investment of $160m, which has the support of the aforementioned financial entities, is a clear sign of YPF’s ability to work with the most demanding credit agencies in the market, and also demonstrates that we are in a context of trust towards the economic future of the country.”