USD 254 million for Aeolic projects of Marcona and Tres Hermanas

Financing of USD 228 million was closed for the 32.1 MW Marcona and the 97.12 MW Tres Hermanas projects, Aeolic parks developed by Cobra, a subsidiary of the ACS Group located in the province of Nazca, Department of ICA, in southern Peru. 

Marcona, first Aeolic park in Peru, started operations in April 2014. It is expected that the adjacent Tres Hermanas plant will start operations toward the end of 2015. Once operating, the projects combined will have an installed capacity of 129.25 MW.

For the development of this project, CAF, Development Bank of Latin America, acted as a financial advisor for Cobra, jointly with Natixis, and as a subordinate moneylender. 

Financing comprises a senior debt granted by U.S. Export-Import Bank, the European development banks Proparco, DEG and FMO and Natixis, and a subordinate loan granted by CAF, Development Bank of Latin America. 

The development of the project includes the entry into operations of 11 wind turbines (of which 8 have a gross power of 3.15 MW, and 3 have 2.3 MW). It also includes the entry into operations of an exit bay on the 220 kV side of the substation of the Marcona Aeolic Park to receive the connection coming from Tres Hermanas, and transfer the energy stored in the dispatch substation to the already existing one in San Juan de Marcona. For this to take place, the project includes the construction of a 31 Km long transmission line and 102 high voltage towers. Finally, connection will be provided for the national network (SEIN) and Osinergmin will buy the energy provided by the project. It is estimated that the project will generate approximately 148 GWh of electric energy each year.