ANNOUNCEMENT 25 Aug 2016

On 25 August 2016, the KfW IPEX-Bank announced it would provide an export credit for the Peralta wind farm in Uruguay.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 25 Aug 2016 | Removal date: open ended

Trade finance

The export credit worth 160.3 million USD will be financed jointly by the KfW IPEX-Bank and the private bank Helaba, and will be paid out in three tranches. Furthermore, part of the export credit will be covered by a financial export credit guarantee within the Hermes programme.

The wind farm will be located in Cuchilla de Peralta in the department of Tacuarembó and its 50 wind turbines will produce 117.5 MW. The plant will be operated by ENERCON which has signed a 20-year deal with the national energy supplier Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE).

A member of the KfW board was quoted in the press release saying "German and European wind technology is in demand internationally. This is a great opportunity ‒ both for manufacturers and the environment. As a bank, we do our part in helping ideas and projects take concrete shape".

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AFFECTED PRODUCTS