YPF Luz and Equinor, announced an agreement in which Wind Power, a subsidiary of Equinor, will subscribe shares in Luz del León, the company in charge of the Cañadón León Wind Farm project, currently under construction, located in the province of Santa Cruz.
Equinor is a leading Norwegian energy company that develops oil, gas, wind and solar energy in more than 30 countries worldwide.
After
the subscription and integration of the capital, YPF Luz and Equinor
will jointly control Luz del León, while YPF Luz will be in charge of
the operation of the Cañadón León Wind Farm project.
Once
the work is finished, the wind farm will have 120 MW of installed
capacity and a total investment of approximately 190 million dollars.
The energy produced by the wind farm will be sold to CAMMESA and YPF
through contracts of 20 and 15 years respectively.
“We
are very satisfied with this agreement with Equinor as a strategic
partner for the development of the Cañadón León wind farm,” said Martín
Mandarano, CEO of YPF Luz. In this way, we add to our projects another
very important actor worldwide, thus showing the confidence of the big
players in the market and global investors in YPF Luz, ”he added.
“We
are pleased to deepen and strengthen our relationship with the leading
energy company in Argentina, YPF, now also within wind energy. We hope
to contribute to the development of the Cañadón León wind farm project
and work together with YPF Luz, ”said the Executive Vice President of
New Energy Solutions in Equinor, Pål Eitrheim.
The
agreement is subject to the fulfillment of certain conditions such as
the approval of antitrust authorities and the obtaining of project
financing.
