China Development Bank loans $37.5 million for Villonaco Wind Farm (Linked to Record ID#69319)

Project narrative

In 2011, the China Development Bank provided $37.5 million for the 16.5MW Villonaco Wind Power Project. This project was funded through a 2011 China Development Bank loan of $2,052,360,403.03 (Record ID#35930), specifically through the $1.4 billion discretionary component (Tranche A; Record ID#69319). The loan terms of Tranche A have been applied to this project. On 24 August 2011, work began on the project. It was expected to be completed on 18 November 2012. The contractor for the project is a Chinese company, Xinjian Goldwind Science. On 2 January 2013, construction was completed and the wind farm began operations. The project is located in the Loja Province. It will have 11 wind turbines at a height of 2,720m with a total nominal power of 16.5 MW (1.5 MW each). The project will serve to supply 25% of the electricity consumption in the province of Loja. The electricity will be sold at a price of USD 0.08 per KWh in the first ten years until the investment is amortised.