KfW Ipex-Bank has structured debt finance for the 24MW Kosten wind farm in Argentina under development by Spanish outfit Grenergy Renovables.
The German bank arranged a 15-year export credit facility, which is guaranteed by Euler Hermes through 95% political and commercial insurance cover.
Kosten, which is located in the province of Chubut, is expected to be commissioned by the end of the second quarter of 2019.
It secured a 20-year power purchase agreement through the Argentinian government’s Renovar programme.
Renovar awards long-term contracts for renewable generation to meet a 20% by 2025 clean power target.
Law firm Watson Farley & Williams advised KfW IPEX-Bank .
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