Chilean Wind Developer Seeks Loan

Chile’s Ecoingenieros is looking for a 15-year, $56m loan to help finance construction of an $80m wind farm, a company official says. The developer expects to talk to banks and look at offers together with investors next month, then seek to raise the money as soon as July. “We are now trying to find the best loan possible to go ahead with the building of the project,” says Carlos Faundez, director for Ecoingenieros. Debt would cover 70% of the cost, with the remainder coming from equity, he says, explaining that they already have an offer from a local bank, and are awaiting two offers from Chinese banks. There are plenty of investors, he says, adding that those involved on the equity side are private investors with a special interest in energy and wind projects. He says he expects to work with either a local bank or a Chinese bank, adding that several of Chinese-made turbines have been sold in Chile already. “We have a good relationship with Chinese banks and Chinese wind turbine manufacturers,” Faundez says. The 40MW Pacifco project is located in the Chile’s Los Lagos region.