German development bank KfW and the IDB Invest (previously IIC) are lining up a debt facility for the 100MW Del Bicentenario wind project in Argentina, Inframation has learned.
The two lenders are negotiating a roughly USD 100m credit facility for the USD 150m project. Financial close is not likely to occur before October, according to a source briefed.
The sponsor is Petroquímica Comodoro Rivadavia (PCR), an Argentinian company primarily focused on the oil and gas sector and building materials.
The financing is backed by a 20-year power purchase agreement won at country’s RenovAr renewable energy auctions in November 2016.
Construction is understood to be almost complete through PCR’s equity and may be completed before the financing closes.
Mott MacDonald is the technical advisor to the sponsor and INTECH is the insurance advisor to the lenders.