Argentina - Spanish Company signed an important agreement for the development of one of the largest wind farms in the world.

The Spanish group Guascor in recent days has signed an intention agreement with the Argentine government to build one of the world’s largest wind farms, which would come into operation by end-2013.

This project is located in Pico Truncado, north of the Patagonian province of Santa Cruz, covering an area of 6,500 hectares. The wind farm will have 700 wind turbines installed, which together will produce between 600 and 900 MW. The investment is estimated at U 2.400 million.

The president of the Spanish group announced that it will generate 300 direct and 900 indirect jobs during the first three years of construction of the wind farm. He also added that it will create another 180 direct and 500 indirect jobs, considering the involvement of local businesses.

The work could begin in 12 months, as they are currently associated with a local company, known as Eólica Pico Truncado SA.

Furthermore, the executive indicated that Guascor is facing 4 milestones for this work: the first deals with the signing of the land on which the wind farm will be located, the second involves the environmental permit (already started), the third focuses on the negotiation of a supply contract with the electric power company and the fourth is the definition and financial organization, involving both domestic and international funds, while 30% of total will be contributed by Guascor.

For more information please contact Trevor Sievert at ts@windfair.net