Argentina’s Corporacion America has launched two wind farms in Uruguay with a total capacity of 90 MW – the equivalent of a third of the electricity demand of the city of Montevideo.

The Carapé I and II projects required an investment of $220m, said Hugo Eurnekian, director of Corporacion America and head of the energy holding business unit.

Financial engineering required a loan from the Inter-American Development Bank, repayable in 18 years.

Corporacion Americ signed a sale-type power purchase agreement (PPA) with Uruguay’s state-owned electricity company UTE.