CDB provides a $52 million loan for the 33 MW Negrete Cuel Wind Project
Commitment amount
$ 58657900.71387142
Adjusted commitment amount
$ 58657900.71
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Chile
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
On February 1, 2013, financial close was reached on a deal in China Development Bank (CDB) entered into a $52 million USD senior project finance loan agreement with Mainstream Renewable Power Ltd., an Ireland-based renewable energy developer, for the 33 MW Negrete Cuel Wind Project. The proceeds were to be used by the borrower for the construction and operation of the $70 million USD 33 MW Negrete Cuel Wind Farm, a wind farm with a capacity of 33 MW wholly owned by Mainstream Renewables (at financial close), located 12 km west of Los Ángeles city in the Biobío region of southern Chile. Goldwind provided its GW87 1.5 MW wind turbines for the farm. The loan came without a Power Purchase Agreement (PPA) for the energy generaetd by the farm. Implementation had begun by February 2013, with operations expected to begin in September 2013. The wind farm began providing power on December 11 2013 and began commercial operations on February 4, 2014.
Number of official sources
7
Number of total sources
12
Details
Cofinanced
No
Direct receiving agencies [Type]
Mainstream Renewable Power Ltd. [Private Sector]
Implementing agencies [Type]
Xinjiang Goldwind Science & Technology Co., Ltd. [Private Sector]