Natixis-led group loans $254 million to Peru windfarms

• 9 years ago (2015-04-28)
• Junior Isles

North America 1021 Renewables 776

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Cobra Energia, the renewable energy developer, has received $254 million in loans from a group of financing companies led by Natixis SA for two wind projects in southwest Peru.

According to a statement by Natixis, other members of the group include Export-Import Bank of the US, the French Development Agency, the German Investment Corporation, and the Netherlands Development Finance Company.

Fossil-fuelled power plants currently account for 63 per cent of Peru’s power production and the country is seeking to diversify its energy sources. Last year, the Minister of Energy and Mines announced big plans to improve the current energy situation in Peru – pushing a goal of renewables meeting 66 per cent of Peru’s energy needs.

The funding will be allocated between the 32 MW Marcona project (completed in April 2014) and the 97 MW Tres Hermanas wind farm, which is expected to be completed in December. The Marcona is Peru’s first commercial-scale wind farm to go into operation.

Natixis is a unit of the French bank Groupe BPCE and Cobra is part of the Spanish construction company Grupo ACS.