Italian renewable energy company Enel Green Power (EGP) has agreed a 12-year €110mn loan with Danish export credit agency EKF and Citi to develop the Talinay wind farm in Chile.

Citi acted as agent and arranger on the deal, while EGP provided a guarantee.

The overall investment for the completion of the plant, which has an installed capacity of around 90MW, totals approximately US$165mn.

The deal marks the third loan granted to EGP by EKF since October 2011 for a total of approximately € 400mn, and bears an interest rate in line with the market benchmark, EKF says in a statement.