2019-08-23
http://w3.windfair.net/wind-energy/news/32264-equinor-wind-farm-argentina-stake-investment-capacity-ppa-market

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Wind Industry Profile of


Equinor Buys Cañadón León Wind Project in Santa Cruz in Argentina

Equinor and YPF Luz have announced that the companies have entered an agreement where a subsidiary of Equinor will subscribe to shares in Luz del León which is currently building the Cañadón León wind farm project.

Image: EquinorImage: Equinor

Equinor will hold a 50% stake of Luz del León, with an equity contribution of USD 30 million. After the subscription and capital integration, YPF Luz and Equinor will jointly control Luz del León, while YPF Luz will be in charge of the operations of the Cañadón León Wind Farm project. After the completion of the works, the wind farm will have a capacity of about 120 MW of power and a total investment estimated to around USD 190 million.

 

The total installed capacity and wind power has already been sold to CAMMESA under the RENOVAR 2 Program and to YPF S.A. under a private power purchase agreement for 20 and 15 years respectively.

 

"We are very satisfied with this agreement with Equinor as a strategic partner for the development of the Cañadón León wind farm," says Martin Mandarano, CEO of YPF Luz. “In this way, we add to our projects another very important worldwide energy leader, thus reflecting the confidence of such players and global investors in YPF Luz.”

Equinor entered Argentina in 2017 where the company has been busy within the oil and gas markets.

Source:
Equinor
Author:
Windfair Staff
Email:
press@windfair.net
Keywords:
Equinor, wind farm, Argentina, stake, investment, capacity, PPA, market



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