The Amayo II wind project is comprised of 11 Suzlon S88-50HZ 2.1 MW wind turbines and is capable of producing a total of 23.1 MW of electricity. Combined with the Amayo I wind project (that has 19 turbines), the two phases have a total output of 63.0 MW representing almost 10% of available installed capacity. The projects are located in Rivas, a prime wind location with access to transmission lines along the southwest Pacific coast of Nicaragua. Output for both phases is fully contracted under long-term, 15-year Power Purchase Agreements with the local power distribution companies Dissur and Disnorte. "The Amayo Phase II project adds much needed and competitively priced sustainable energy for Nicaragua and complements our existing portfolio in the region," explains Cesar Zamora, AEI Country Manager for Nicaragua.
This second phase of the Amayo wind project will be financed through a facility consists of a $42 million Senior Loan and a $3 million Mezzanine Loan. Senior Loan participants include CABEI, FMO, the Danish Export Credit Agency (EKF) and the Belgian Investment Company for Developing Countries (BIO). The Mezzanine Loan was provided by the Access to Energy Fund, which FMO manages on behalf of the Dutch government (Ministry of Foreign Affairs, Directorate General International Cooperation).
"This financing enables the continued expansion of AEI’s wind-generated power portfolio and further demonstrates the financial market's appetite for well structured projects in Central America," said Jim Hughes, Chief Executive Officer of AEI, while Silvio Conrado, CABEI’s Nicaragua Director, added that the new wind farm “depicts government's effort to support the Country Strategic Energy Sector Plan, which search for a change in the energy matrix promoting renewable energy sources”.
“We are very satisfied with the commitment of and investments made by AEI, the regional and local shareholders to make this project a success. The impact of this renewable energy investment on the local energy sector, the economy and environment are expected to be very positive,” concluded Nanno Kleiterp, CEO of FMO.
AEI owns and operates essential energy infrastructure businesses in emerging markets diversified across four core business segments - Power Distribution, Power Generation, Natural Gas Transportation and Services, and Natural Gas Distribution - within five regions - Andean, Southern Cone, Central America/Caribbean, China, and Europe/Middle East/North Africa. AEI and its 11,550 employees serve more than 7.4 million customers worldwide, with approximately 26,500 miles of gas and liquids pipelines, 121,000 miles of power distribution and transmission lines, and 2,302 MW of installed power generation capacity.
For additional information:
____________________________________________________________________________________________________
