Pomona Wind Farm

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The project entails the construction of a 101.4 MW wind farm in Rio Negro, Argentina. Vientos del Sudoeste is the project company. Pérez Alati, Grondona, Benites & Arnsten (PAGBAM) is legal advisor to the SPV. The total investment amounts to $ 188.80 million. The $ 141.6 million non-recourse debt will be provided in two tranches, comprising: $ 120.9 million – KfW IPEX-Bank and $ 20.7 million – KfW subsidiary Deutsche Investitions- und Entwicklungsgesellschaft (DEG). The KfW tranche will be backed by Germany's export credit agency Euler Hermes. Pomona project is the first non-recourse long-term financing in Argentina with a local player and the debt/equity ratio is 75:25. The project is backed by a 20-year power purchase agreement (PPA) with offtaker and system operator Cammesa. Genneia is the project sponsor. Fianncial close took place on June 12, 2018. Project was completed on July 15, 2019. https://ijglobal.com/data/transaction/42013/pomona-wind-farm-1014mw ; https://inframationgroup.com/latin-america-kfw-backs-genneias-first-project-finance-deal, https://renewablesnow.com/news/genneia-starts-commercial-ops-at-100-mw-pomona-i-wind-park-661681/