CP Achiras S.A.

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 /style> The proposed transaction entails an up to US$20 million A loan under a project finance structure to Central Puerto (CP) Achiras S.A. (Achiras or the Company). The Achiras wind power project (the "Project") includes the construction and operation of a 48MW wind power plant, a transformation substation and a 17 kilometer transmission line connecting the plant and its substation to the national grid. The Project is located in the department of Rio Cuarto, near the city of Achiras, in the Province of Córdoba, Argentina. The Project will be developed and directly owned by CP Achiras S.A.U. ("CPA", or the "Company") a special purpose vehicle organized under the laws of Argentina, predominantly owned on an indirect basis by Central Puerto, S.A. ("CEPU", the "Sponsor"), Argentina’s largest privately-owned power generation company.The Project will use 15 Acciona Windpower AW125/3.2MW wind turbine generators (WTGs), each one linked to the on-site 33kV collector switchgear. The voltage will then be stepped up to a transmission voltage of 132kV at the on-site Project substation and will be evacuated through the Project transmission line which will finally connect to the Villa Mercedes- Rio Cuarto node. The total Project cost is estimated at US$81.1 million. The Achiras project is the second project awarded to CP in Argentina’s Renovar auctions. The project area is 28.7 km from the Municipality of Achiras by road and 7 km measured in a straight line. The closest settlement to the project site is the town of Achiras, with 2,287 inhabitants. There are no communities located in the vicinity of the project site. The land where the project will be located was acquired from one landholder on a willing buyer - willing seller basis. The land has historically been used (55%) for agriculture, predominantly soybean and fallow crops, though nothing has been planted for at least a year. The remaining 45% of the ecosystem is characterized as grasslands or natural pastures for grazing of cattle, horses and sheep. The area is void of trees, except for a cluster of pines that surround a small abandoned farm house inside the project landhold. There are no protected areas, nature reserves or national parks in the vicinity of the project, nor are there any Important Bird Areas (IBAs) nearby.The sponsor has signed an MOU with Acciona Windpower for turbine supply and installation. The main construction contractor will be Milicic and the owner’s engineer will be Ventus. Construction of the project is expected to begin in the second quarter of 2017 and operations are expected to begin at the end of 2018. The project is expected to require around 110 workers during peak construction, and around 6 workers during operations.