in News Departments > Projects & Contracts
print the content item

Chinese bank China Minsheng Banking Corp. (CMBC) has agreed to finance an Abengoa-led wind development in Uruguay that will be powered by Gamesa wind turbines.

Through Chinese export credit agency Sinosure, Gamesa has reached an agreement with CMBC for the funding of the Talas de Maciel II wind farm. Construction of the 50 MW wind farm - which will be powered by 25 Gamesa turbines - is slated for completion in November.

The turbines will be manufactured at Gamesa's China-based factory, therefore meeting the local content requirement required by CMBC. Gamesa says the agreement with CMBC will make wind development more competitive by facilitating cheaper financing predicated on local supply requirements.

Gamesa claims it is the first foreign wind turbine maker - with a presence in China - to secure financing from a Chinese bank.


Trachte Inc._id1770
Latest Top Stories

Wind And Solar Are Catching Up With Nuclear Power, Says Report

A new report from the Worldwatch Institute says nuclear energy's share of global power production is steadily shrinking. Meanwhile, renewables' share keeps growing.


Could New Desert Plan Spell The End Of California Wind Energy Development?

The California Wind Energy Association says it is disappointed with the draft Desert Renewable Energy Conservation Plan, which was recently released by state and federal agencies.


New U.S. House Bill Includes Wind PTC Extension

U.S. representatives have introduced the Bridge to a Clean Energy Future Act of 2014, which would extend the production tax credit (PTC) and other provisions through 2016.


Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


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.

Renewable NRG_id1934
Canwea_id1984
Future Energy_id2008