Parque Eolico El Arrayan Gets $245 Million for Chile Wind Farm

Parque Eolico El Arrayan, a joint venture created to develop Chile’s largest wind farm, secured $245 million in financing.

The funds will be arranged by Eksport Kredit Fonden, Tokyo-based Bank of Tokyo-Mitsubishi UFJ Ltd., French lender Credit Agricole, Japan’s Sumitomo Mitsui Banking Corp. and local bank Corpbanca, the joint venture said today in a statement.

Construction has started on the wind farm, which Parque Eolico El Arrayan expects to start operating in early 2014, according to the statement.

The joint venture is made up of closely held renewable-power developer Pattern Energy Group LP, Houston-based power utility AEI and Chilean mining company Antofagasta Minerals SA.

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