IDB finances two wind projects in Uruguay

The Inter-American Development Bank (IDB) is to invest $107.7m in two wind farms in Uruguay, Ecoticias reports.

The projects are El Libertador and Palmatir, and are part of state-owned UTE’s plans to increase wind power development in the country.

El Libertador and Palmatir will be the first wind projects to receive direct financing from the IBD.

Currently Uruguay has a generation capacity of 2578 MW – 60 per cent of which comes from hydropower and 33 per cent from fossil fuels.

The Uruguayan government, however, is keen to encourage the greater use of renewable energy resources to meet the country’s electricity demand.

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