La Castellana Wind Farm

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The project entails the construction and operation of a 99-MW wind farm located in the department of Villarino, Province of Buenos Aires, near the city of Bahia Blanca. CP LA CASTELLANA, S.A.U. is the project company that will develop the farm on behalf of the sole sponsor - Central Puerto S.A. The project has a capacity to supply about 450GWh of clean electricity into the Argentina Grid Interconnected System (SADI). The contract was awarded following a competitive bidding process in 2016 as part of RenovAr auction procedure in which CPSA appeared to be the lowest bidder. Thus, La Castellana Wind Project bagged a 20-year PPA with CAMMESA to supply power to the national interconnection system via the 132kV Chañares sub-station at the bid price of US$61.50/MWh. The total investment cost of the farm is estimated at $152.6 million and is being funded through debt and equity in 80:20 ratio. IFC’s financing will include a $36.6 million A Loan and a $26 million facility from its Managed Co-Lending Portfolio Program (MCPP). An additional total of $36 million in various facilities for the project were provided by the Inter-American Development Bank Group; while a local currency VAT facility of $19 million equivalent was provided by Banco Galicia. Moreover, $5 million was provided from the Canadian Climate Fund. Financing closed in November 2017. In addition to the financing, IFC provided $0.75 million risk management facility. Expected to be operational in April 2018. http://www.iadb.org/en/news/news-releases/2017-11-27/argentina-invests-in-99mw-wind-project,11974.html https://www.bnamericas.com/en/news/electricpower/idb-approves-loan-for-la-castellana-wind-farm/ http://wind.cleantechnology-business-review.com/news/ifc-agrees-to-provide-loan-for-100mw-argentinean-wind-project-5984430 http://wind.energy-business-review.com/news/ifc-supports-argentinas-renovar-program-with-financing-for-the-100-mw-la-castellana-wind-project-5984189 https://ifcextapps.ifc.org/ifcext/pressroom/IFCPressRoom.nsf/0/0FA2EEB019DC5260852581E0006D3C37 https://disclosures.ifc.org/#/projectDetail/SII/39065 Central Puerto to be added to sponsors' list;