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

Feb 24, 2023 09:48 AM ET

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.

Argentina's Genneia inks USD-85m loan for new wind, solar projects — Image: Argentina.gob.ar

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.

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