Argentine power company Genneia has obtained $131.4m in project financing from the German development bank KfW for the construction of 141MW of wind.

The 15-year financing was granted even as the Argentine economy continues to be weighed down with high fiscal deficits and inflation. Although the crisis is starting to recede following a bailout from the International Monetary Fund and budget cuts by the government, it has made it harder for local firms to tap international markets for financing.