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KfW Bank of Germany Funds 42-Megawatt Akuo Wind Farm in Uruguay

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Aug. 12 (Bloomberg) -- KfW Group, a German development bank, is financing a 42-megawatt wind-farm project by France’s Akuo Energy SAS in Uruguay.

KfW’s IPEX export bank is providing a long-term loan of as much as $79.5 million for the Minas project in Uruguay’s Lavalleja region, the lender said today in an e-mailed statement. Eighty percent of the loan is covered by a guarantee from Danish export credit insurer Eksport Kredit Fonden.

The wind farm will use 14 turbines made by Vestas Wind Systems A/S and produce enough energy for about 40,000 households, KfW said.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

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

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