Germans back 42MW Uruguay wind

Vestas is best placed to benefit from the recovery, according to HSBC

Vestas' V112 3MW machine

Germany’s KfW IPEX-Bank will provide long-term project finance of up to $79.5m for the 42MW Minas wind farm in Uruguay.

Minas is being developed by French company Akuo Energy and will use 14 Vestas V112 3MW wind turbines.

The German bank said the Minas deal marks its first financing of a wind farm project in Latin America, adding that 80% of the loan is covered by a guarantee from Danish export credit agency EKF.

Vestas said earlier this year that Minas is due to begin operations in 2014.

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