Spanish-Peruvian company to invest $280 million in wind power stations

The general manager of Iberoperuana Inversiones, Juan Coronado, said Monday the Spanish-Peruvian consortium is planning to invest $280 million to build two wind power stations in northern Peru, state news agency Andina reported.

Coronado said they are to invest $210 million in the construction of a wind farm in Cupisnique, located about 55 miles north of Trujillo in the La Libertad department, which will produce 80 megawatts of energy.

The second wind farm will be built in Talara, located on the coast in the Piura department, and will require a $70 million investment. It is to produce 30 Mw.

The company, which has been working on renewable energy projects in Peru since 2003, obtained seven temporary concessions from the government in 2008 to carry out feasibility studies for wind farms in various areas on the north coast.  This month, the ministry of energy and mines has granted five temporary concessions for new feasibility studies, mainly in the department of Ica.

Coronado said Iberoperuana is currently evaluating proposals to purchase the wind turbines, which will stand 80 meters tall and have blades measuring 50 meters long. The company, whose Spanish partner is Iberdrola, the world’s leading wind energy developer, is seeking financing from investment funds in the United States, the Andean Development Fund, the World Bank’s International Finance Corporation and the Inter-American Development Bank.

The Cupisnique and Talara wind farms are expected to be operational by July 2012.

The state owned company responsible for administering electrical infrastructure projects, Adinelsa, estimates that wind farms on Peru’s coast could produce 65,152 Mw. The farms would take up 4,654 square kilometres, approximately two percent of the country’s total coastal land area.

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