in News Departments > Projects & Contracts
print the content item

The board of directors of the Overseas Private Investment Corp. (OPIC), the U.S. government's development finance institution, has approved a total of $288 million in financing for two wind projects that will deliver electricity to Pakistan and Peru.

A $95 million OPIC credit facility will help build a 50 MW wind project in southeastern Pakistan's Ghoro-Keti Bandar Wind Corridor. The Sapphire Wind Power project will use GE turbines, and will support a goal to diversify Pakistan's power generation. A recent study funded by the National Renewable Energy Laboratory and the U.S. Agency for International Development estimates that Pakistan possesses 132 GW of potential installed wind power capacity.

In addition, a $193 million OPIC loan will support a 114 MW wind power project in Peru, the first large-scale wind project linked to the country’s power grid. Comprising two wind parks on Peru’s northwestern Pacific coast, the project’s 62 wind turbines will provide vital energy for a nation that has enjoyed strong economic growth during the past decade but has lacked the energy investment to match it. From 2000 to 2010, electricity demand grew by more than 70%, while installed capacity grew by only 40%.

When added to two 40 MW solar projects that OPIC’s board approved in 2011 and 2012, the wind project puts OPIC at the vanguard of renewable energy deployment in Peru. ContourGlobal, a New York-based international power generation company with approximately 3 GW of projects in operation in 15 countries, is the U.S. sponsor of the project.



Trachte Inc._id1770
Latest Top Stories

The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.


Quebec Government Postpones Wind Power RFP; No New Date Scheduled

The request for proposals (RFP) is part of an overall 800 MW wind power tranche that will serve as a bridge to the next phase in the province's energy future.

Renewable NRG_id1934
Canwea_id1984
Future Energy_id2008
UnitedEquip_id1995