Genneia secures financing for 151MW Argentine wind project

Argentine thermal and renewable energy producer Genneia SA has secured the financing for the 151MW Puerto Madryn II wind project, the second stage of the 222-MW Parque Eolico Madryn (PEMAD) complex. The Argentine development bank BICE and Banco Santander will each provide $10 million with a potential to expand the total loan amount to $70 million. Output will be sold to local grid operator CAMMESA under a 20-year PPA.