The Overseas Private Investment Corporation (OPIC) has approved $288 million in funding for two enormous wind farm projects in Pakistan and Peru, projects the corporation’s Board says will deliver vital renewable energy security to both nations.
$193 million will go towards building a 114 MW wind farm on Peru’s Northwest Pacific coast – the first to be hooked into the nation’s electricity grid. New York-based power generation group ContourGlobal will arrange financing for the Talara and Cupisnique wind parks. Vestas Corporation is the general contractor for the project and is supplying 62 of their 1.8 MW V-100 wind turbines.
According to OPIC Peru has excellent economic potential but has lacked investment in essential energy infrastructure, with installed capacity failing to meet the demands of an increasingly prosperous population.
“The provision of clean and reliable electricity is an essential building block of any economy,” said OPIC President and CEO Elizabeth L. Littlefield. “The Board today affirmed OPIC’s commitment to support efforts by Pakistan and Peru to diversify their energy production to include important contributions from renewable energy sources.”
Click here to read the full story.
