The two projects will add a total of 132MW of renewable capacity to national grid and will supply power to an estimated 500,000 Peruvian consumers.
The loans will provide long-term financing for two of the first commercial-scale wind power projects in Peru while reducing an estimated 440,000t of CO2 emissions peer year.
The Marcona wind farm and associated facilities construction was completed in March 2014 while work on the Tres Hermanas site is expected to be completed in September 2015.
IDB Structured and Corporate Finance Department Infrastructure Division chief Jean-Marc Aboussouan said: "The IDB’s financing of these two projects will send a strong signal to potential investors in Peru’s wind market.
"Wind offers a complement to thermal and hydroelectric sources, which today account for 97 percent of the country’s energy matrix, and will serve as a seasonal complement to hydro in particular."
Additionally, IDB support for the two wind facilities would include subordinated debt funding from the Canadian Climate Fund for the Private Sector (C2F) to help in optiminzing the capital structure of the project.
