Friday 1 Apr 2016
Invenergy Closes Campo Palomas Wind Financing
Voltiq acted as Financial Advisor to the Sponsor
CHICAGO (April 1, 2016) – Invenergy Wind LLC (“Invenergy”) today announced that it has closed on the acquisition and financing of Campo Palomas Wind Farm, which currently is under construction in the Salto Department of Uruguay. The leading clean energy company purchased the wind farm from a Uruguayan subsidiary of Abengoa while Teyma Uruguay, also an Abengoa affiliate, will continue to perform project balance of plant work. Project financing was provided by the Inter-American Investment Corporation, and DNB acted as the Mandated Lead Arranger and B-Loan Participant. “We’re very pleased to close on the Campo Palomas Wind Farm as it advances and strengthens Invenergy’s commitment to Latin America,” said Matthew Olive, Invenergy’s Vice President of Development and Origination for the Americas. “With power generation at approximately 90 percent renewables, Uruguay is a global leader in renewables, and this is a market that we are excited to enter.” The facility will have the capacity to generate 70 MW of power from 35 Vestas V110 - 2.0 MW wind turbines when commercial operation commences in February 2017. The state-owned utility Usinas & Trasmisiones Electricas (UTE) will be the offtaker/lessor for the full capacity of the wind farm under a long-term lease agreement.
Invenergy was advised on the debt transaction by Voltiq, based in Madrid and Utrecht, The Netherlands.
Invenergy is delivering innovation in energy. Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation and storage facilities in the Americas and Europe. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan and Europe. Invenergy and its affiliated companies have developed more than 12,000 MW of projects that are in operation, construction or advanced development, including wind, solar, natural gas-fueled power generation and energy storage projects. For more information, please visit www.invenergyllc.com.