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, 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.