KfW IPEX-Bank and Landesbank Hessen-Thüringen finance Peralta wind farm in Uruguay

Frankfurt am Main (ots) -

- Consortium consisting of KfW IPEX-Bank and Helaba supports
German wind turbine manufacturer ENERCON
- Complex financing structure includes Hermes cover
- New installation of 117.5 MW: wind project aims to diversify
generation sources and improve Uruguay's carbon footprint

KfW IPEX-Bank and Helaba support the expansion of renewable
energies in Uruguay with a loan of USD 160.3 million. German wind
turbine manufacturer ENERCON is building the state-of-the-art Peralta
wind farm in the centre of the country with a total installed
capacity of around 117.5 MW. The loan structured by KfW IPEX-Bank as
a long-time business partner of ENERCON and jointly provided through
the consortium with Helaba as one of ENERCON's core banks will be
paid out in three tranches and is covered in part by a federal export
credit guarantee (Hermes cover).

"German and European wind technology is in demand internationally.
This is a great opportunity - both for manufacturers and the
environment. As a bank, we do our part in helping ideas and projects
take concrete shape", commented Markus Scheer, member of the
Management Board of KfW IPEX-Bank. The South American country has set
ambitious goals for itself. It intends to generate as much as 38% of
total domestic electricity production from wind energy by 2017; in
mid-2015 this figure was only 13%.

The Peralta wind farm is located in the municipality of Cuchilla
de Peralta in the department of Tacuarembó in central Uruguay. The
new farm consists of 50 ENERCON E-92 wind turbines featuring a hub
height of 108 metres, a rotor diameter of 92 metres and an output of
2350 kW per turbine. The farm's total capacity of 117.5 MW and
projected 300 GWh/pa are enough to supply around 150,000 typical
Uruguayan households with green energy.

The generated power is sold to the national energy supplier
Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE),
which concluded a power purchase agreement for a period of 20 years
with the project company founded by ENERCON. The wind turbine
manufacturer from Aurich, Lower Saxony, is involved in the Peralta
project as investor, turbine supplier, construction and operation
partner. It will also provide long-term servicing for the turbines
for more than 15 years.

About KfW IPEX-Bank GmbH

Within KfW Group, KfW IPEX-Bank is responsible for international
project and export finance. Its function of providing financing to
boost the German and European economy is derived from the legal
mandate assigned to KfW. It offers medium and long-term financing to
support key export industries, to develop economic and social
infrastructure and to fund environmental and climate protection
projects. KfW IPEX-Bank operates as a legally independent group
subsidiary and plays a major role in fulfilling KfW's promotional
mission. It is represented in the most important economic and
financial centres across the globe.

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Press Office: Thomas Krick,
E-Mail: thomas.krick@kfw.de
Phone: +49 069 7431-8454, Fax: +49 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de

Original Content von: KfW IPEX-Bank, übermittelt durch news aktuell