EIB Agrees to Lend $41 Million to ACS Wind Farms in Spain

The European Investment Bank agreed a 28.3 million-euro ($41 million) loan for a wind park developed by a unit of Spain’s Actividades de Construccion y Servicios SA and Grupo Empresarial Inverduero.

La Boga II park in northwest Spain comprises three wind farms totaling 113 megawatts in the Castilla y Leon region, according to a statement on the bank’s website.

A spokeswoman for the Luxembourg-based bank declined to give further financial information when reached by e-mail, except that the loan was “intermediated” by Instituto de Credito Oficial, an institution owned by the Spanish government. The bank, the European Union’s lending arm, first listed the project in July 2008, according to the statement.

Madrid-based ACS didn’t respond to messages by e-mail and phone seeking more information. The company is developing the facility through its Energias y Recursos Ambientales SA unit.

ACS said in a regulatory filing on July 1 that it will make a profit of as much as 160 million euros from the sale of stakes in five wind parks and and two thermosolar plants. Cinco Dias reported on July 18 that Gas Natural SDG SA is in talks with ACS to buy 15 Spanish wind parks for 600 million euros.

To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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