Overseas Private Investment Corporation to fund wind projects in Peru, Pakistan

The Overseas Private Investment Corporation (OPIC) has approved $288m in funding for two wind power projects in Peru and Pakistan.

Peru will secure $193m from the loan and will be employment for the development of 114 MW wind power project in the country.

Consists of two wind parks on Northwestern Pacific coast the facility will employ 62 wind turbines.

The remainder of the funding, $95m will be used to build the 50MW Sapphire Wind Power plant in southeastern Pakistan’s Ghoro-Keti Bandar Wind Corridor.

OPIC president and CEO Elizabeth L. Littlefield remarked that the board of directors has approved the loan to aid the countries in diversifying their respective energy production sources.

“The wind power projects will enable both countries to take advantage of their massive renewable energy potential to help meet unmet demand for electricity,” added Littlefield.

“The provision of clean and reliable electricity is an essential building block of any economy.”