KfW IPEX-Bank Finances Wind Farm in Argentina

KfW IPEX-Bank has once again structured a complex non-recourse senior debt financing of a wind farm in South America which was recently brought to a successful close with the Spanish sponsor Grenergy Renovables.

The 24-MW wind farm is funded through a 15-year export credit facility arranged by KfW IPEX-Bank and guaranteed by Euler Hermes in the form of extensive political and commercial export credit insurance providing 95 per cent cover. The Kosten wind farm is owned by Grenergy and won a 20 year PPA under the Argentinian government's RenovAR programme. Under this initiative, the government awards long-term contracts for the generation of power using renewable energies. The purpose is to meet the target of covering 20% of energy demand using renewable energies by... ... More: Official Press Release KfW IPEX-Bank

Keywords:

Argentina, KfW IPEX-Bank, bank, finances, investment, wind farm