Danish state guarantee helps Vestas into Argentina

Although rich in undeveloped wind and solar resources, the South American country's transition to green energy is moving slowly. Argentina has in recent years balanced on the verge of economic collapse to the distaste of investors, and the Danish state is for that reason now pledging assistance for two wind farm developments.

Photo: Vestas, PR

Danish wind turbine manufacturer Vestas is currently laying plans to increase its sales to the South American market, and while the company struggles to get a foothold in the region through persistent sales efforts and even the construction of a new nacelle factory, the Danish state is playing an important role.

Danish export credit agency EKF informs that it has participated in securing orders for 23 wind turbines for two new wind farms with a total capacity at 80.6 MW in Argentina. This has taken place via a mix of loans and state guarantees for over EUR 67 million in the project. The infrastructure investments are approximately EUR 148 million, and EKF is taking the greatest risk.

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