IMPSA won approval of a long-term financing of the Corporation Andina de Fomento (CAF) and the Bank for Investment and Foreign Trade (BICE) in favor of its subsidiary Wind Koluel Kayke SA for construction of a wind power generation located in the Province of Santa Cruz. The project called Koluel Kayke II, have a capacity of 25 MW and will have 12 wind turbine technology developed by IMPSA in the country.
The investment will amount to $US 81 million, of which $US 52 million will be provided by the CAF and the BICE together in a 10-year loan. IMPSA in turn provide capital for $US 29 million to complete the project financing.
The financing will be structured under a scheme of “Project Finance” pure, which combine investor capital funds and financial institutions. The repayment will come from cash flows from the sale of energy under contract ENARSA a 15-year term. The project has a strong insurance scheme, technological safeguards and additional guarantees on assets Kayke II Kolulel usual in such operations.
IMPSA has already completed the engineering, soil studies and planning has begun the work and the purchase of inputs and components to make the park begin to generate in 14 months.
This event contributes to the consolidation of the objectives of the Renewable Generation Program (Genre), driven by the Ministry of Planning through the Ministry of Energy and its executor ENARSA. The Program established the framework for clean energy development in Argentina. In this way, it contributes with the aim of Law 26,190, which is to ensure that 8% of national energy from renewable sources by 2016.
For the construction of their projects in Argentina, in the case of wind farms and, in particular, the wind turbines (windmills), IMPSA design uses its technology fully developed in Argentina Mendoza. Manufactured at the plant and through a network of SME companies Argentine Wind Cluster members, which is currently in action.
IMPSA, through its unit IMPSA Energy has become the biggest investor in wind power projects in Latin America now has 322 MW in operation in Brazil and has 600 MW in the same country with the purchase and sale of energy signed and under construction and financing, and another 65 MW in Uruguay in the final stages of financing.
Moreover, the company is facing an impending financial close for Malaspina Park I 50 MW in the province of Chubut and is moving in the financial structuring for parks Koluel Kayke I (Santa Cruz) and Malaspina II (Chubut) .
In addition IMPSA installed for the Province of La Rioja Arauco wind farm already in operation and has a capacity of 25 MW and is building for the same additional 25 MW plus 10 MW of wind power for the Province of Santiago del Estero and 180 MW to the Brazilian company of San Francisco Hydroelectric Company (Chesf) in Brazil.