Gamesa secures China bank funding

Gamesa last week became the first foreign wind turbine maker with a presence in China to secure financing from a Chinese bank.

Gamesa already has wind farms in Uruguay and in Mexico (pictured) sealing its future growth in the Latin American region

By Ritesh Gupta

The entity finalised a deal with Chinese bank, China Minsheng Banking Corp (CMBC), for the funding of the Talas de Maciel II wind farm being developed by Abengoa in Uruguay.

Construction of this 50 MW wind complex, located in Uruguay, is slated for completion in November this year. Gamesa has been hired to supply and install 25 wind turbines at the facility. These turbines will be made at its factory in Tianjin (China), thereby meeting the loan agreement’s local content requirement clauses.

The company shared that it signed this agreement through the Chinese Export Credit Agency, Sinosure.