Overseas Private Investment Corporation, the U.S. Government's development finance institution, recently approved financing for a renewable energy project that will provide electricity to Uruguay.

An Overseas Private Investment Corporation loan of up to $96 million will support the Melowind project, a 50 MW wind farm in northeastern Uruguay.The project helps to address the country's periodic energy supply deficits as the Uruguayan electricity generation supply system is heavily dependent on hydroelectric plants, which in dry years can require greater reliance on expensive fossil-fuel based generation and importing of power from its neighbors.Nordex USA, Inc., based in Jonesboro, Arkansas, will supply wind turbines to the project; the project will be constructed by Juwi AG.The project also contributes to Overseas Private Investment Corporation's growing support for renewable resources projects in Latin America.Source: OPIC