The Inter-American Development Bank (IDB) has approved a private sector loan of up to $132.6m for a 90MW wind power project in the department of Maldonado, Uruguay.
The IDB loan, which includes $88.4m from its ordinary capital and $44.2m from the China Co-financing Fund for Latin America and the Caribbean set up by the Chinese Government, will partially finance the development of the Carape wind project.
To be built in the Sierra de Carape, north of the city of San Carlos, the project will feature two sub projects, 50MW Carape I and 40MW Carape II wind farms. The project, which is currently in its initial stages, will transmit power to the grid operated by the state enterprise UTE.
To be developed by Vengano and Fingano, the project will include construction of 31 Vestas wind turbines, a 150kV transmission line of 39.6km, substations, civil works, access roads and other necessary infrastructure.
In September 2013, Vestas won a contract to supply 17 V112-3.0 MW turbines for the sub project, Carape I, which will generate around 242,000 MWh of renewable energy annually, enough to power 220,000 people.
The scope of the contract includes delivery, installation and commissioning of the turbines, a VestasOnline Business SCADA system and a 17-year active management output (AOM) 4000 service agreement, which guarantees turbine availability.
The project, which will generate around 364,700MWh of renewable energy annually, enough to power more than 158,000 people, will significantly contribute towards the diversification of the country's energy matrix and curb CO2 emissions by an average of 259,000t annually.
IDB Structured and Corporate Finance Department Infrastructure Division chief said the loan will help add 90MW wind energy in the country and represents the bank's commitment to support the country's efforts to develop non-traditional renewable energy.
Image: Carape I and II wind farms will feature Vestas wind turbines. Photo: courtesy of Vestas Wind Systems.