Fides Emgasud Rawson Wind Project

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The Emgasud Rawson wind farm was a 77.4 MW wind farm, consisting of 43 Vestas 1.8 MW turbines, in Chubut province, near the city of Puerto Madryn.. The project developer, Emgasud Renovables S.A. was created to develop and operate renewable energy generation facilities in Argentina. As of 2011, the company was a subsidiary of Emgasud, which in turn was 45% owned by the Argentinian Fides Group and 42.7% by US-based Fintech. The project was awarded in a government tender for renewable energy known as GENREN, whereby the winning bids were awarded 15-year PPAs with the state utility Enarsa. Predicted investment in the project was USD 144 million, with an expected final commissioning date in 2012. In 2011 it was reported that the Emgasud had successfully raised a USD 157 million on local debt markets to finance the construction of the Rawson project. Emgasud changed its name to Genneia in 2012. http://www.rechargenews.com/magazine/article1294735.ece http://www.moodys.com/research/Moodys-assigns-B3Baa1ar-ratings-to-EMGASUDs-USD-160-million-proposed--PR_208566