The European Investment Bank (EIB) is set to provide $150m to finance the development and operation of a windfarm and photovoltaic (PV) solarpower project in Peru.

Expected to be operational in the first half of next year, the two projects will have a combined installed capacity of 312MW.

They are currently being built by renewable energy production company Enel Green Power Perú, a local subsidiary of the Enel Group.

The windfarm is being constructed in the Nazca region 470km to the south of Lima, while the solar plant is being developed in the Moquegua region near the Chilean border.

“The two projects will have a combined installed capacity of 312MW.”

The projects will help generate additional job opportunities in the country during construction and operation.

Enel Global Renewable Energies head and Enel Green Power CEO Antonio Cammisecra said: “The EIB’s support for two of our projects in Peru constitutes an important recognition of our commitment to promote the development of renewable energy sources in the country.

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“We aim to create value for local communities and the national energy system as a whole, fostering sustainable growth and diversification of the energy mix. To this end, we will continue to promote new projects in Peru.”