Genneia, a renewable energy company, has announced the commissioning of La Elbita Wind Farm, its eighth wind project in Argentina and third in the province of Buenos Aires. Located 42 kilometers from Tandil, this project represents an investment of over $240 million and marks a significant milestone in the company’s wind power capacity in the country.
By Panorama Minero
La Elbita, spanning 1,464 hectares, is the first large-scale wind farm in the region and Genneia’s largest project in Buenos Aires. Equipped with 36 state-of-the-art wind turbines standing 120 meters tall, the facility is designed to supply clean energy to major industrial clients via the Renewable Energy Term Market (MATER).
The financing for La Elbita combined international and local capital. On the international front, FMO (the Dutch development bank) and FinDev Canada supported the project with a 10-year, $85 million corporate loan, while local investors participated through the issuance of green bonds.
The wind farm is expected to produce around 705,000 MWh of renewable energy annually, enough to supply 175,000 households, and is projected to prevent the emission of more than 370,000 tons of CO₂, supporting Argentina’s emissions reduction goals and efforts against climate change.
Genneia’s CEO, Bernardo Andrews, highlighted the company’s commitment to sustainable development in Argentina. “The commissioning of La Elbita in Tandil strengthens our commitment to renewable energy and a cleaner, more sustainable energy matrix in Argentina,” Andrews stated.
This announcement comes in a year where Genneia surpassed 1,000 MW of installed capacity, consolidating its leadership in the country’s renewable energy market, where it holds a 20% share in installed wind and solar capacity.
