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Argentina: Impsa secures Malaspina wind project funds

2012/12/29

Argentine renewable energy firm Impsa has signed a financing arrangement with national gas trust Nación Fideicomiso to fund the construction and commissioning of the 50MW Malaspina I wind farm in Chubut province, Impsa said in a statement.

The resources will come from Argentina's federally owned Banco Nación and local bank Banco de Inversión y Comercio Exterior (BICE).

The agreement, signed by Impsa's subsidiary Central Eólica Pampa de Malaspina under a project finance scheme, includes the issue of 10-year deficit securities for up to US$100mn.

Malaspina I is expected to produce 200GWh/y, serving around 70,000 families and preventing the emission of 135,000t of carbon dioxide into the atmosphere, inclunding saving 60Mf3/y (1.7Mm3/y) of natural gas.

Malaspina I will contribute to the planning ministry's renewable generation program GenRen, which aims to generate 8% of the power matrix from renewable sources by 2016.

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