Central Puerto received US$ 76 million for La Genoveva Wind Project (88MW) from IFC
November 26, 2019 — Vientos La Genoveva I, a subsidiary of Central Puerto, received on November 22, the full disbursement, US$ 76 million, of the financing agreed with IFC, a member of the World Bank, for the construction of La Genoveva I project, a wind farm awarded under Round 2 of RenovAr program.
The 88 MW La Genoveva I project sponsored by Central Puerto S.A., is located close to Bahía Blanca, in the southern part of the province of Buenos Aires and is expected to be operational by May 2020. Once completed, La Genoveva I will inject approximately 390 gigawatt-hours of electricity per year into Argentina’s electricity grid, contributing towards the Government of Argentina’s target of achieving 20% of its total generation from renewable sources by 2025.
“Central Puerto is engaged in a major effort to add significant renewable energy capacity, both through the RenovAr and MATER programs, consistent with the Government of Argentina’s objectives of diversifying the country’s energy generation matrix”, said Fernando Bonnet, Chief Financial Officer of Central Puerto. “Under the RenovAr and MATER schemes the company has already added 205 MW to its installed capacity and is additionally developing 180 MW of wind and solar photovoltaic projects. Central Puerto is pleased to count on IFC, even in the current challenging times, as a reliable financing partner in the development of several of these projects.”