Spanish firm Gamesa claims to have become the first foreign wind turbine manufacturer to get finance from a Chinese bank.
It secured backing through the Chinese Export Credit Agency, Sinosure, to fund the 50MW Talas de Maciel II wind farm being built in Uruguay.
The wind farm will consist of 25 turbines which will be manufactured at Gamesa’s factory in Tianjin in China.
The company said in a statement: “This agreement marks a sector milestone as it will make wind developments more competitive by facilitating cheaper financing predicated on local supply requirements.”
Gamesa has installed more than 3,500MW of wind capacity in China since 2000.