Globeleq Generation Limited (Globeleq), a markets power company, announced the acquisition of the 44 MW Eolo wind project in Nicaragua through it’s majority-owned subsidiary, Globeleq Mesoamerica Energy (Wind) Limited.
The company has purchased 100 percent of the interest in Eolo de Nicaragua S.A., which has been developing the project. The project will use 22 Gamesa 2.0 MW G90 wind turbines, and electricity will be sold through two 20-year power purchase agreements to the privately-owned Distribuidora Electricidad de Sur S.A. and Distribuidora Electricidad de Norte S.A., both subsidiaries of Gas Natural of Spain.
Eolo will also construct a new substation and interconnection lines to enable connection to the national grid. Project debt financing is provided by FMO, The Netherlands Development Finance Co., which also acted as the lead arranger; Proparco, the private sector investment arm of the French development body Agence Francaise de Developpement; and DEG, Deutsche Investitions und Entwicklungsgesellschaft mbH.
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