The wind projects received a long-term loan for 131.5 million for its construction and commissioning . He was awarded by the German bank KfW.
[Caption id = "attachment_1321" align = "aligncenter" width = "660"] 
Chubut North Wind Farm [/ caption]
Buenos Aires, July 15, 2019.- Genneia Winds Patagónicos S.A. and Genneia Winds from the South American S.A. Genneia S.A. controlled subsidiaries, entered into a credit agreement for $ 131.5 Long-term million for the construction and commissioning of wind farms Chubut Norte III and IV (141 MW) on the date.
Chubut parks Norte III and IV, currently under construction and awarded to Genneia in Round 2 of RENEW, are located very close to the city of Puerto Madryn, in the province of Chubut; and will be connected to the Argentine Interconnection System (SADI) from the second quarter of 2020. The parks operate 31 turbines Nordex (model 149, 4.5 MW each), delivering power to more than 197,000 homes and reducing 453,000 tons emission of carbon dioxide to the environment.
The loan will be made under the methodology of Project Finance for a period of 15 years with 75% of debt on total project costs. At the same as in the previous Finance Project executed by Genneia, banks will have no recourse against the sponsor, since their repayment will be supported solely by the cash flow to be generated by the projects. Thus, the balance of Genneia not be exposed to the risks of the projects.
Financing agreements consist of a secured loan without recourse to 15 years granted by Kreditanstalt für Wiederaufbau ( "KfW"). KfW loan is guaranteed by the export credit agency of Germany, Euler Hermes, through a comprehensive political agreement on trade and export credit.
About Genneia:
Genneia is a leader in providing sustainable energy solutions, which exceeds the horizon of the 1,100 MW power generation in Argentina. It owns 30% of installed capacity in wind energy, making it the number one in the sector.
The company has a superior power to 410 MW of wind power with wind farms Rawson I, II and III, Trelew, I Madryn, Chubut North I and Villalonga I and II, Pomona I; and reaches 500 MW of renewable energy, considering its solar parks Ullum 1 March 2 (82 MW) in the province of San Juan.
In addition, it is building wind projects Madryn II (150 MW), Chubut North II (MW 26), Chubut North III (83 MW), Chubut North IV (MW 58) and Pomona II (12 MW); Wind Wind park Necochea (38 MW) together with the Atlantic coast stations; and a biomass power plant in Florida, Tucumán for 19 MW. It also owns and operates 7 thermal generators (620 MW).
