CHICAGO (April 1, 2016) – Invenergy Wind LLC (“Invenergy”) today announced that it has closedon the acquisition and financing of Campo Palomas Wind Farm, which currently is under constructionin the Salto Department of Uruguay.
The leading clean energy company purchased the wind farm from a Uruguayan subsidiary ofAbengoa while Teyma Uruguay, also an Abengoa affiliate, will continue to perform project balanceof plant work. Project financing was provided by the Inter-American Investment Corporation, andDNB acted as the Mandated Lead Arranger and B-Loan Participant.
“We’re very pleased to close on the Campo Palomas Wind Farm as it advances and strengthensInvenergy’s commitment to Latin America,” said Matthew Olive, Invenergy’s Vice President ofDevelopment and Origination for the Americas. “With power generation at approximately 90 percentrenewables, Uruguay is a global leader in renewables, and this is a market that we are excited toenter.”
The facility will have the capacity to generate 70 MW of power from 35 Vestas V110 - 2.0 MW windturbines when commercial operation commences in February 2017. The state-owned utility Usinas& Trasmisiones Electricas (UTE) will be the offtaker/lessor for the full capacity of the wind farm undera long-term lease agreement.
Invenergy was advised on the debt transaction by Voltiq, based in Madrid.
About Invenergy
Invenergy is delivering innovation in energy. Invenergy and its affiliated companies develop, ownand operate large-scale renewable and other clean energy generation and storage facilities in theAmericas and Europe. Invenergy's home office is located in Chicago and it has regional developmentoffices in the United States, Canada, Mexico, Japan and Europe.
Invenergy and its affiliated companies have developed more than 12,000 MW of projects that are inoperation, construction or advanced development, including wind, solar, natural gas-fueled powergeneration and energy storage projects. For more information, please visit www.invenergyllc.com.
Contact: Mary Ryan, Senior Manager, Public Affairs312-582-1424 or mryan@invenergyllc.com