Thursday, October 2, 2014

IDB loans to support wind power projects in Peru

The Inter-American Development Bank (IDB) announced the approval of loans of $23.2 million and $44.1 million to the Marcona and Tres Hermanas wind farm projects in the department of Nazca, south of Lima. The loans will provide long-term financing for two of the first commercial-scale wind power projects in Peru, leading to the displacement of an estimated 440,000 tons of CO2 emissions annually.

Together, the energy generated by the two farms is expected to produce a supply equivalent to meet the needs of an estimated 500,000 Peruvian consumers. Construction on the Marcona farm and associated facilities was completed in March of this year. Work on the Tres Hermanas site began in July and is expected to be completed in September 2015.

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