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Enel Green Power signs loan agreement to finance Dominica I wind farm in Mexico

CTBR Staff Writer Published 17 November 2014

Italian renewable energy firm Enel Green Power has signed a $104m loan agreement to finance its Dominica I wind farm in Mexico.

The loan has been signed through Dominica Energía Limpia, a subsidiary of Enel Green Power, with Spain's Banco Santander as lender, sole lead arranger and agent.

The loan will support the $196m investment Enel Green Power has made in the wind farm which is currently under operation in the municipality of Charcas in the Mexican State of San Luis Potosì.

The wind farm features 50 2MW turbines, capable of generating about 260GWh of energy per year.

It has two long-term power purchase agreements worth a total of around $485m.

The loan is the second granted to the Enel Green Power by Banco Santander with the coverage of Spanish Export Credit Agency (CESCE) in 2014. Both the loans total €230m.

In 2013, Enel Green Power started construction on the Sureste I-Phase II wind farm in the Oaxaca state, Mexico.

Enel Green Power has a total installed capacity of 197MW in Mexico, of which 144MW is generated through wind power and 53MW by hydroelectric.

As of 30 September 2014, the company has an installed capacity of about 9,500MW from a mix of sources including wind, solar, hydroelectric, geothermal, and biomass.