Akuo Completes Financing for Wind Farm in Uruguay With KfW Funds

(Bloomberg) — Akuo Energy SAS, a French developer of
clean-power projects, completed financing for a wind farm in
Uruguay by raising $78.5 million from KfW Ipex Bank GmbH and
Denmark’s Eksport Kredit Fonden.

The unit of the German development bank is providing all of
the 50-megawatt project’s construction and long-term financing,
partly covered by a guarantee from EKF, Akuo said Monday in an
e-mailed statement. Eurus Energy America Corp. bought shares and
provided shareholder loans of at least $26 million. The company
declined to disclose the total cost of the project.

“Uruguay is a country with exceptional renewable wind
resources,” Eric Scotto, chief executive officer and co-founder
of Akuo, said in the statement. The wind farm is the company’s
third project in Uruguay and will bring its installed capacity
there to almost 150 megawatts, he said.

The Florida II wind farm will produce enough power for
about 30,000 homes and the electricity will be bought by
Uruguay’s state-owned grid operator, according to the statement.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Randall Hackley, Sarah McGregor

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