The financing includes a $42m senior loan from the Netherlands Development Finance Company (FMO), Central American Bank for Economic Integration (CABEI), Danish Export Credit Agency (EKF) and the Belgian Investment Company for Developing Countries (BIO).
In addition, the company has secured a $3m mezzanine loan provided by the Access to Energy Fund, which FMO manages on behalf of the Dutch government (Ministry of Foreign Affairs, Directorate General International Cooperation).
The Amayo II wind project comprises of 11 Suzlon S88-50HZ 2.1MW wind turbines to produce a total of 23.1MW of electricity and when combined with the Amayo I wind project featuring 19 such turbines, the two phases have a total output of 63.0MW.
The company has entered into long-term 15-year power purchase agreements to sell the entire output from both phases representing almost 10% of available installed capacity to the local power distribution companies Dissur and Disnorte.
AEI CEO Jim Hughes said that this financing enables the continued expansion of AEI’s wind-generated power portfolio and further demonstrates the financial market’s appetite for well structured projects in Central America.
