GE gets 122-MW wind job Argentina from YPF

Argentine oil group YPF SA (BCBA:YPFD) has awarded GE Renewable Energy (NYSE:GE) a contract to build the 122-MW Los Teros wind farm in the province of Buenos Aires.

The turnkey contract includes turbine installation and the construction of a substation. Work is starting this month, GE said Thursday, noting that this will be the first wind park it builds in Argentina.

Los Teros will feature 32 pieces of GE 3.83-MW wind turbines, installed on an area of 2,450 hectares (6,054 acres) in Azul. Its capacity factor is expected to be around 57%, once the park is operational. The total investment in the wind farm is estimated at USD 144 million (EUR 126.9 m).

The owner of the park, YPF Luz, will supply power from the park to customers through the Wholesale Electricity Market (MATER). The company has already signed contracts with the local unit of Japanese giant Toyota Motor Corp (TYO:7203) and with Coca-Cola FEMSA for the supply of renewable electricity from Los Teros.

The wind park is expected to offset around 5.5 million tonnes of carbon dioxide (CO2) emissions in 20 years, GE noted, and support Argentina's 20% renewable electricity goal by 2025.

(EUR 1.0 = USD 1.133)

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