Uruguay seeks $70m for wind farms

Uruguay is looking for a $70 million (£44.1m) investment to build two wind farms. The Colonia Arias and Valentines projects cost $300 million (£189m) in total and will generate 70MW […]

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By Jacqueline Echevarria

Uruguay is looking for a $70 million (£44.1m) investment to build two wind farms.

The Colonia Arias and Valentines projects cost $300 million (£189m) in total and will generate 70MW of electricity.

The Inter American Development Bank is investing $216 million (£136m) and Uruguay’s state run electric company, UTE, is providing $8 million (£5m).

The aim of the project is to reduce the costs of energy production.

UTE chairman Gonzalo Casaravilla said: “84% of electricity is produced by renewable energy including wind and hydropower. Even wind has overcome our water shortfall.”