August 16 (Renewables Now) - Argentina’s utility Pampa Energia SA (BCBA:PAMP) has taken full ownership of Greenwind SA, the entity behind the Mario Cebreiro Wind Farm (PEMC) with an installed capacity of 100 MW.
Pampa Energia said in a press release on Friday it has acquired the remaining 50% stake in Greenwind from its former business partner for USD 20.5 million (EUR 20.1m).
Located about 18 kilometres (11.2 miles) from the city of Bahia Blanca, the province of Buenos Aires, PEMC has been in operation since June 2018. The wind farm produced 367 GWh of clean power in 2021 which was sold to Argentine wholesale electricity market clearing company CAMMESA at an average price of USD 71 per MWh.
The business is associated with net debt of USD 65 million as of June 30, 2022.
The holder of the remaining 50% interest in Greenwind was an investment vehicle of US private equity firm Castlelake LP.
(USD 1 = EUR 0.984)