San Marcos Wind Expansion

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The project envisages the financing, construction and operation of an approximately 12 MW expansion of the existing 50 MW San Marcos wind farm located near San Marcos de Colón, Choluteca, Honduras owned by Vientos de Electrotecnia S.A. de C.V. This is a brownfield project under which the project company will Build, rehabilitate and operate the additional power facility. As with the 50 MW plant, the sponsor is Grupo Terra and owns 100% of the project. The San Marcos farm had a 20-year PPA agreement with Honduras state power company Empresa Nacional de Energia Electrica (ENEE). Total investment for the 12 MW expansion project stands at $26 million and is funded through debt and equity in 75:25. Project financing was provided by three bilateral organizations - FMO granted $10.5 million, while DEG and AFD (Proparco) each provided $4.5 million for a total debt amount of $19.5 million. Grupo Terra will contribute $6.5 million in equity to the project. Financing closed on December 7th, 2017. submission form sourced;