Japan’s Mitsui & Co has taken a share in the Vientos Los Hercules wind farm project in the southern Argentine province of Santa Cruz.
France-based independent power producer Total Eren, which developed the 97MW project, sold a minority holding to Mitsui during its construction.
The wind farm will comprise 27 wind turbines, each with a 3.6MW capacity, supplied by Senvion.
Law firm Watson Farley & Williams (WFW) advised a syndicate of lenders on Mitsui’s transaction.
They are Deutsche Investitions- und Entwicklungsgesellschaft, Kreditanstalt fur Wiederaufbau and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden as well as KfW IPEX-Bank as arranger and agent WFW previously advised the lenders on the initial US$167m project financing of Vientos Los Hercules.
The financing was partly covered by Euler Hermes through a political and commercial export credit insurance.
It was one of the first limited recourse project financing transactions in Argentina since its international debt restructuring, according to WFW, reaching financial close in 2017.