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Acciona has formalized a long-term financing agreement with the State Bank of India (SBI) for two of the company’s wind farms in that country with a total of 29.70 megawatts of power.
The €18.14 million transaction is the largest resource financing project undertaken to date in the Indian wind energy sector, according to a press release from the Spanish company.
Formalized through the Acciona Wind Energy Ltd. subsidiary, the project covers the Anabaru and Arasinagundi wind farms, both 100% controlled, located in the state of Karnataka, in the south of the Asian subcontinent.
They represent a total investment of €29.6 million (2.072 billion rupees) and they went online in 2008. Both wind farms were registered by the United Nations as a joint project under the Clean Development Mechanism (CDM) included in the Kyoto Protocol.
Their renewable production during the 10-year period stipulated in the agreement will prevent the emission of 884,200 tonnes of CO2 into the atmosphere.
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11/18/09
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