Vientos Bonaerenses, a subsidiary of power company AES Argentina, has secured financing of up to USD 100 million from IDB Invest and international lenders to complete two phases of its wind farm project in Buenos Aires province, law firm Bruchou & Funes de Rioja said.

The financing is structured as an A/B loan, consisting of up to USD 20 million funded directly by IDB Invest and a syndicated tranche of up to USD 80 million mobilised through international financial institutions. AES Argentina Generacion will act as guarantor.

Bruchou & Funes de Rioja acted as local legal counsel to Vientos Bonaerenses and AES.

The expansion will add 102.4 MW of installed capacity through the Vientos Bonaerenses III and IV phases, taking the complex’s total capacity to 202.2 MW from the existing 99.8 MW, AES Argentina said separately.

The additional capacity is expected to generate around 450 GWh of electricity annually, equivalent to the consumption of approximately 150,000 households. The project is expected to create about 400 direct jobs during construction, with local workers from Tornquist and Bahia Blanca set to participate.

AES Argentina, a unit of US utility AES Corp, will market the electricity through Argentina’s Renewable Energy Term Market (MATER), which serves large users in the wholesale electricity market.

Vientos Bonaerenses is AES Argentina’s first wind farm. It was commissioned in early 2020.