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Rome, Italy, 2014/03/24 - The loan agreement, covered by Cesce, the Spanish Export Credit Agency, is associated to the Group’s investments in wind power in Mexico - Enel.com. IT0003128367
Enel Green Power SpA (“Enel Green Power”), acting through its Dutch subsidiary Enel Green Power International BV, the financial and controlling holding company of international subsidiaries of the Enel Green Power Group, has signed a 153 million euro loan agreement with Banco Santander as lender, sole lead arranger and agent. The agreement is covered by the Spanish Export Credit Agency (“CESCE”).
The 12-year term loan bears an interest rate in line with the market benchmark and is secured by a parent company guarantee issued by Enel Green Power. The loan is associated to investments in wind farms located in Mexico and owned by Enel Green Power subsidiaries.
CESCE’s institutional role involves supporting Spanish component manufacturers, to which Enel Green Power has turned for the construction and development of the plants.
The Enel Green Power Group’s development strategy relies on funding projects through cash flow generation, in combination with external funding only when the latter is long-term and competitively-priced as well as coming from reliable partners.
In Mexico, Enel Green Power owns and manages 144 MW of wind capacity, and is currently constructing two additional wind farms, Sureste (102 MW) and Dominica (100 MW).
Enel Green Power (enel.com) is the Enel Group company fully dedicated to the development and management of renewable energy sources at the international level, with operations in Europe and the Americas. The company generated over 29 billion kWh in 2013 from water, sun, wind and the Earth’s heat - enough to meet the energy needs of more than 10 million households and avoid the emission of over 20 million tonnes of CO2 into the atmosphere. Enel Green Power is a world leader in the sector thanks to its well-balanced generation mix, providing generation volumes well over the sector average. The company has an installed capacity of approximately 8,900 MW from a mix of sources including wind, solar, hydroelectric, geothermal, and biomass. Currently, the company has approximately 750 plants operating in 16 countries in Europe and the Americas.
In Latin America, Enel Green Power runs renewable energy plants in Mexico, Costa Rica, Guatemala, Panama, Chile and Brazil, with a total installed capacity of nearly 1,200 MW as of today. Specifically, in the wind sector, in addition to the projects under construction in Brazil, the company has 24 MW of installed wind capacity in Costa Rica, 144 MW in Mexico as well as 180 MW in Chile. The company is also constructing the 99 MW Taltal wind farm in Chile as well as the Sureste (102 MW) and Dominica (100 MW) wind farms in Mexico. With its century-long experience in the field of geothermal energy, Enel Green Power is also developing new opportunities in this sector. Again in Chile, the company is exploring several concessions with a potential capacity exceeding 100 MW.
In Latin America, the Enel Group, operating through Endesa and its subsidiaries in five countries, is the largest private-sector operator, with approximately 16 GW of installed capacity and serving some 14 million customers.