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CDB provides $52 million loan for 33MW Negrete Cuel Wind Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | AM Eolica Negrete SpA |
| Country | Chile |
| Start Date | Feb 01, 2013 |
| End Date | Aug 19, 2032 |
| Duration | 7,139 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 39065 |
Grant Description
CDB provides $52 million loan for 33MW Negrete Cuel Wind Project On February 1, 2013, financial close was reached on a deal in China Development Bank (CDB) entered into a $52 million senior project finance loan agreement with AM Eolica Negrete SpA -- a special purpose vehicle that is 90% owned by Mainstream Renewable Power Ltd., an Ireland-based renewable energy developer -- for the 33 MW Negrete Cuel Wind Project.
The proceeds were to be used by the borrower for the construction and operation of a $70 million wind farm with a capacity of 33 MW, located 12 km west of Los Ángeles city in the Biobío region of southern Chile. Goldwind provided its GW87 1.5 MW wind turbines for the farm. The loan was issued in the absence of a Power Purchase Agreement (PPA) for the energy generated by the farm.
Implementation had begun by February 2013, with operations expected to begin in September 2013. The wind farm began providing power on December 11, 2013 and began commercial operations on February 4, 2014.
Sources & References
- Goldwind and Mainstream form Joint Venture to build 70MW Wind Farm in the North of Chile
- Goldwind to build Mainstream Chilean project
- Are Big Chinese Energy Investments in Latin America a Concern?
- Negrete 33 MW
- Mainstream Renewable Power Completes Financial Close and Starts Building $70m Wind Farm in Chile
- Cuel WInd Farm - Under Opperation
- Negrete Cuel Wind Farm Financing (33 MW)
- NEGRETE CUEL WIND FARM IN CHILE LAUNCHES COMMUNITY FUND
- Nuestro Proyecto
- Mainstream完成融资并建设智利33MW风电场
- Negrete Cuel Wind Farm Financing (33MW)
- Mainstream completes financial close and starts building $70m wind farm in Chile
- Carey Our Firm Presentation
- Aker Horizons Half-Year Report 2021
- Se inicia construcción de Parque Eólico Negrete Cuel Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
AM Eolica Negrete SpA
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