IDB, China Fund to Provide $133 Million for Uruguay Wind Project

Oct. 31 (Bloomberg) -- The Inter-American Development Bank and a Chinese government fund will provide $132.6 million for two wind farms in Uruguay’s southern Maldonado region.

The Carape I & II wind farms will have a total 90 megawatts of capacity and include 31 turbines from Denmark’s Vestas Wind Systems A/S, the IDB, as the Washington-based lender is known, said today in a statement. They will be developed by Argentina’s Corp. America SA and Spain’s Grupo Empresarial San Jose.

The IDB will provide $88.4 million and the China Co-financing Fund for Latin America and the Caribbean will provide $44.2 million, according to the statement. The China fund was created to co-finance IDB projects in the region.

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