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Equinor to join wind farm development in Argentina

Equinor ASA has reached an agreement with YPF Luz to acquire a 50% stake in a wind farm development company in Argentina for $30 million, according to an Aug. 6 news release.

Luz del León is developing the 120-MW Cañadón León wind farm in Argentina. The output of the $190 million wind farm will be sold to CAMMESA SA and to YPF SA under power purchase agreements for 20 and 15 years, respectively.

The agreement is subject to the fulfillment of certain conditions precedent such as approval of the relevant antitrust authorities and obtaining project financing.

YPF Luz is owned by YPF and a General Electric Co. affiliate.