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Enel Green Power in €153m loan deal to develop Mexico wind farms

Italy renewable energy developer signs 12-year loan agreement with Spanish banking group Santander to invest in wind farms across Mexico

Wind farm complex
Enel Green Power currently owns and manages 144MW of wind power capacity in Mexico

Italian renewable energy developer Enel Green Power has signed a EUR 153m agreement to develop wind power in Mexico. Through its Dutch subsidiary Enel Green Power International BV, Enel Green Power, based in Rome, Italy, has signed a 12-year loan agreement to invest in wind farms across Mexico.

The 12-year loan agreement, covered by the Spanish Export Credit Agency (CESCE), has been signed with Spanish banking group Santander. CESCE’s institutional role involves supporting Spanish component manufacturers, which Enel Green Power said it will use to construct and develop the Mexican wind farms.

Enel Green Power said it owns and manages 144MW of wind power capacity in Mexico. The Italian renewable energy developer is currently constructing two additional wind farms, Sureste (102MW) and Dominica (100MW) in the growth market.

The investment to develop wind farms in Mexico is Enel Green Power’s latest involvement in wind power projects in growth markets this year. The company is currently constructing a 90MW wind power complex in Brazil, which consists of three wind farms. The company completed the second of the three Brazilian wind power plants for the complex called, Cristal, earlier this month.

At the time of the announcement about Cristal: the company said, “Enel Green Power is strengthening its presence in Brazil’s promising renewable energy market. This new wind farm brings Enel Green Power’s installed capacity in Brazil to more than 207MW.”