Argentina's Genneia inks USD-85m loan for new wind, solar projects

• Argentine power firm Genneia has signed a loan agreement to obtain up to USD 85 million (EUR 80.3 m) to finance the building of wind as well as solar projects in the nation.

The funds will certainly be provided by Dutch development bank FMO an Development Finance Institute Canada (DFIC) Inc, Genneia claimed in a bourse filing.

The funds will be used for the building and construction, commissioning and maintenance of the La Elbita I and II wind farms amounting to 162 MW and also the 60-MW Tocota III solar farm.

Earlier in February, the business held a bond sale to increase funds for these projects.