The projects will be developed with a combined investment outlay of $205m and are one of the first to be undertaken in the wake of the government’s announcement to develop 1GW wind power by 2015.
Akuo Energy Uruguay CEO Juan Negro noted, "We are happy to play a significant leadership role in supporting the government´s plan to incorporate wind energy in the power generation matrix."
Located about 100km north from the capital city of Montevideo, the first Florida Project will comprise 21 Nordex N117/2400 wind turbines with 2.4MW capacity each, mounted on 91-meter towers.
Akuo secured non-recourse project financing of $88.5m for the project with the European Development Financing Institutions, PROPARCO, DEG and FMO.
Generación Eolica Minas, the second facility, will feature 14 V112-3.0MW turbines with 42MW of installed capacity, located east of Montevideo in the district of Lavalleja.
The company is currently advancing negotiations to secure $76m financing for the project.
Uruguay’s state power company Usinas y Terminales Eléctricas (UTE) will purchase the electricity generated from both farms under 20-year power purchase agreements.
