Thursday 23 October 2014

Uruguay granted $42m for wind energy

A wind project in Uruguay has been granted a $42.2 million (£26m) loan by the Inter-American Development Bank (IDB).

The Kiyu wind farm, which will be located in Paraje Barrancas de San Gregorio, will generate around 187,900MWh of renewable energy every year – meeting the needs of more than 67,700 homes.

The cash will help finance the development, construction, operation and maintenance of the 48.6MW wind farm and its associated facilities.

Jean-Marc Aboussouan, Chief of the Infrastructure Division of the Structured and Corporate Finance Department at the IDB said: “The Bank continues to support the wind power sector in Uruguay as we have from the outset, with the financing of several projects that have helped the sector post considerable growth in the past few years.”

Uruguay is forecast to reach an installed capacity of 30% in non-conventional renewable energy sources by 2017, according to the IDB.