Noticias
June 27, 2019.
Vientos La Genoveva I, a subsidiary of Central Puerto, obtained financing from the International Finance Corporation (IFC), a member of the World Bank, for the construction of the La Genoveva I project, a wind farm awarded in the Ronda 2 of the RenovAr program. The 88 MW La Genoveva I project, sponsored by Central Puerto SA, is located near Bahía Blanca, in the southern part of the province of Buenos Aires and is expected to come online in May 2020. Once completed, La Genoveva I will inject approximately 390 Gigawatt-hours of electricity per year into Argentina’s power grid, contributing to the Government of Argentina’s goal of achieving 20% of its total generation from renewable sources by the year. 2025.
IFC provided the entire long-term financing package for La Genoveva I, including a $30 million A loan and an additional $46.1 million in Shared Loan Program (MCPP) funding administered by IFC. The financing marks the third opportunity through which IFC has partnered with Central Puerto to build a wind farm in the country.
The two previous projects (100.8 MW La Castellana and 48 MW Achiras) have been completed and are fully operational. “IFC continues to provide its support to the Government of Argentina’s successful RenovAr program through the financing of La Genoveva I, which is particularly important at a time of great volatility in Argentina’s financial markets,” said David Tinel, Regional Manager for IFC. “Our presence in the country is characterized by our countercyclical financing role and long-term partnerships with companies such as Central Puerto. We hope this encourages other financial institutions to increase their financing to Argentina, fulfilling our role as a catalyst for private capital.”
“Central Puerto is committed to an effort to add significant renewable energy capacity, both through the RenovAr and MATER programs, in line with the Government of Argentina’s objectives of diversifying the country’s energy generation matrix,” said Fernando. Bonnet, CFO of Central Puerto. “Under the RenovAr and MATER schemes, the company has already added 149 MW to its installed capacity and is developing an additional 237 MW of wind and solar photovoltaic projects. Central Puerto is pleased to have IFC as a reliable financial partner in the development of several of these projects.”
About Central Puerto
Central Puerto S.A. is one of the largest private sector electricity generation companies in Argentina, measured by energy generated, with a current installed capacity of 4,092 MW and 800 MW under construction. Central Puerto’s assets are well diversified both geographically and technologically, with facilities distributed in the City of Buenos Aires and the provinces of Córdoba, Mendoza, Neuquén, Río Negro and Santa Fe and a combination of combined cycles, gas turbines, steam, hydroelectric plants, cogeneration units and wind turbines. Central Puerto is listed on the New York and Buenos Aires stock exchanges, under the symbol CEPU.
For more information visit
www.centralpuerto.com.
About IFC
IFC, a sister organization of the World Bank and a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. It works with more than 2,000 companies worldwide, using equity capital and expertise to create markets and opportunities in the world’s most difficult areas. In fiscal year 2018, it delivered more than $23 billion in long-term financing to developing countries, harnessing the power of the private sector to end extreme poverty and drive prosperity in the communities in which it works. For more information visit
www.ifc.org.
