Peru Wind Projects to Get $67 Million IDB Loan

Sept. 26 (Bloomberg) — Peruvian renewable energy developer
Cobra Energia will receive a $67.3 million loan from the Inter-American Development Bank for two wind park projects.

The Marcona wind farm will receive $23.2 million and the
project Tres Hermanas will receive $44.1 million, the
multilateral lender, known as IDB, said in an e-mailed
statement.

“The IDB’s financing of these two projects will send a
strong signal to potential investors in Peru’s wind market,”
Jean-Marc Aboussouan, chief of the infrastructure division in
the bank’s corporate finance department, said in the statement.

Thermal and hydroelectric plants account for 97 percent of
Peru’s power and the country is seeking to diversify its energy
sources.

The Marcona project was completed in March and has 32
megawatts of installed capacity. Tres Hermanas is planned to
start operating in September 2015 and will have 97 megawatts of
capacity. Both wind farms are located in Peru’s southwest.

The financing will probably include subordinated debt from
Canadian Climate Fund for the Private Sector, the IDB said.

To contact the reporters on this story:
Vanessa Dezem in Sao Paulo at
vdezem@bloomberg.net;
John Quigley in Lima at
jquigley8@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Carlos Caminada, Steven Frank

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