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Financing Obtained for Costa Rica Wind Projects

Costa Rica News – It looks like the money needed for Costa Rica’s wind energy projects will be arriving.

wind energy costa ricaInternational development agencies and funds have pledged over US$149mn in long-term debt financing towards the Costa Rican Alisios wind projects.

The Netherlands’ development finance company FMO acted as mandated lead arranger on the project financing, providing US$70.2mn. A total US$26.2mn was pledged by OeKB, the development bank of Austria, and the Dutch funds Triodos Groenfonds and Oikocredit, who participated under FMO’s B loan. These are in addition to the US$53mn funding provided last October by Proparco, the private sector investment arm of the French development body Agence Française de Développement.

The transaction was arranged in less than six months to ensure the wind farm would be operational by late 2016 and take advantage of the December-May period, when the winds are strongest.

“Supporting sponsors with investments in wind farms like Alisios has been part of FMO’s energy strategy for years, supporting job creation and much-needed clean and renewable energy in developing countries,” says Linda Broekhuizen, FMO chief investment officer.

BY SOFIA LOTTO PERSIO, GTR

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