Construction of the 50 MW Orosi project in Costa Rica and the 24 MW expansion of the existing 102 MW Cerro de Hula wind farm will be managed by Globeleq's majority owned subsidiary, Globeleq Mesoamerica Energy, or GME.
The goal, according to Mikael Karlsson, Globeleq's CEO, is to further diversify the region's power generation sources while at the same time providing more affordable electricity to end users.
Equity will be contributed by Globeleq and its partner Mesoamerica Power through GME, with project debt financing for Orosi being provided by the Export-Import Bank of the United States, Banco Internacional de Costa Rica (BICSA), and FMO, The Netherlands Development Finance Company. The Cerro de Hula expansion will be funded by GME, the Export-Import Bank of the United States and the Central American Bank for Economic Integration.
Gamesa turbines have been chosen for both projects.