Arias, Fábrega & Fábrega acted as counsel to the Central American Bank for Economic Integration (CABEI) and the Netherlands Development Finance Company (FMO) in connection with a long-term, non-recourse project financing to Consorcio Eólico Amayo (Fase II) S.A., for the second phase of a 23.1 MW wind park project for electricity generation located in the Municipality and Department of Rivas, a prime wind location with access to transmission lines along the southwest Pacific coast of Nicaragua.

The 15-year loan facility includes a US$42 million senior loan and a US$3 million mezzanine loan. CABEI, FMO, the Danish Export Credit Agency (EKF) and the Belgian Investment Company for Developing Countries (BIO) have provided the senior loan.

The borrower is a Panamanian corporation acting through its Nicaraguan branch.

The Amayo II wind project features 11 Suzlon S88-50HZ 2.1MW wind turbines, which have a total power generation capacity of 23.1MW. Together Phase I and Phase II of the wind project, have a total generation capacity of 63MW, approximately 10% of available installed capacity. The generated electricity from the project will be sold to Disur and Disnorte, local transmitters under 15-year contracts.

This is a continued effort from countries in the region to reduce their dependence on imported oil and to develop alternative, renewable energy options.

About Consorcio Eólico Amayo
Consorcio Eólico Amayo (Fase II), a joint venture between AEI, Centrans Energy Services and Energia Eólica de Nicaragua.