Under the terms of the agreement, Santander would acquire each project for an already-agreed price per MW and provide between 80% and 90% of the required equity capital for the development.

The four projects are due to commence commercial operations by the end of December 2015 at the latest.

Santander also co-financed Rame's first two wind projects in the country, the Raki and Huajache wind farms totalling 15MW.