Blue Power Energy S.A.

repaid

The proposed investment in the wind farm consists of installing twenty-two 1.8 MW Vestas V90 wind turbine generators, resulting in a total power generation capacity of 39.6 MW per year. The project will be located in southwestern Nicaragua, near the town of Rivas. The area of the wind farm will be interconnected by a network of access roads. Power will be delivered to the Amayo substation via a 13 km overhead line.The main purpose of the La Fe / San Martín wind farm is to provide affordable electricity to the Nicaraguan power grid from a clean, renewable source—wind. The farm’s expected net power output is 138 GWh per year, at 40% capacity. The project qualifies as a clean development mechanism (CDM) project.Blue Power & Energy S.A. is a special purpose vehicle in Nicaragua, established by Mr. Joaquín Cuadra, M & Block and Construcción Lacayo Fiallos S.A. All these companies are owned by Nicaraguan citizens. Vestas WTG México S.A. de C.V. will supply the equipment and provide wind generator transportation, unloading, assembly, and installation services. Industria Tecnológica de Panamá S.A., an affiliate of the Belgian group TRECO, is the transaction manager. Dissur and Disnorte, utilities companies in Nicaragua, will be the offtakers.The Panama branch of Banco Internacional de Costa Rica has been working with the IIC in structuring the operation. The Danish exports agency Eksport Kredit Fonden (EKF) is also participating in the transaction.