Enel Green Power (EGP), through its subsidiary Enel Green Power International (EGPI), has secured a €100m loan from EKF, the Danish export credit agency, for two wind farms in Chile.
Guaranteed by EGP, the 12-year term loan will help cover part of the investments in the Taltal and Valle de Los Vientos wind farms totalling 190MW.
Citi is acting as the sole lead arranger and agent, while EKF's institutional role is to support Danish component manufacturers, to which EGP has turned for the construction and development of the plants.
On 27 December 2013, EGP commissioned the new 90MW Valle de los Vientos wind farm, which can generate more than 200GWh of electricity annually.
Owned by Parque Eolico Valle de los Vientos, a subsidiary of Enel Green Power Chile, the approximately €170m plant is located in the II Region of Antofagasta.
The 45-turbine plant will supply its output to the Transmission Network of Chile's Northern Region (Sistema Interconectado del Norte Grande, SING) through the Calama substation under a 20-year power purchase agreement.
The construction of the Valle de los Vientos plant is part of the growth targets set by Enel Green Power's 2013-2017 business plan.
The 99MW Taltal wind farm, which is currently under construction in the region of Antofagasta, can generate approximately 300GWh of electricity annually.
The 33-turbine wind farm will deliver its output to the Chilean central region transmission network through the Paposo substation under a 20-year power purchase agreement.
The company has received a public land concession for the wind farm in 2012 under the Chilean Government's first public tender.
Image: EGP signs €100m loan agreement with EKF for two wind farms in Chile. Photo: courtesy of Enel Green Power.