OPIC Approves $96 Million Financing for Juwi’s Uruguay Wind Farm

Overseas Private Investment Corp. will loan renewable-energy developer Juwi AG as much as $96 million for a 50-megawatt wind farm in northeast Uruguay.

The Melowind project in Cerro Largo department will cost about $128 million and use turbines produced by the U.S. unit of Germany’s Nordex SE (NDX1), Nancy Payne, a spokeswoman for Washington-based OPIC, said today in an e-mail. Juwi is based in Woerrstadt, Germany.

The project will help Uruguay reduce its dependence on power from hydroelectric plants and fossil fuels, she said.

OPIC approved $193 million of financing for Peru’s first large-scale wind project in March, according to the e-mail.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

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

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