November 17, 2011 — IMPSA, a renewable energy company, will get a $150 million loan from the Inter-American Development Bank to help finance its plans to expand wind energy generation in Latin America.
The IDB loan will be to IMPSA's Brazilian unit Wind Power Energía S.A. to support the construction of an estimated four wind farms, three in Brazil and one in Uruguay, which will add 546 MW of wind energy capacity in the region by 2014.
The estimated $1.4 billion investment program is expected to reduce carbon emissions by about 595,000 to 680,000 tons of carbon dioxide per year once the projects are fully operational.
The three new Brazilian wind power plants will add an additional 481 MW of installed capacity in Brazil while the plant in Uruguay, known as El Libertador, will contribute with at least 13 percent of the country's strategic goal of reaching 500 MW of installed wind capacity over the next five years.
The IDB will also provide IMPSA with technical assistance to conduct an energy efficiency audit in its primary hydro and wind turbine manufacturing plant. The study will help identify options for reducing the energy costs and greenhouse gas emissions at the plant, solutions that can be also implemented in other IMPSA's plants.