Enel Green Power has borrowed €153mn from Santander to invest in Mexican wind farms.

The debt has been covered by the Spanish export credit agency (ECA) Cesce and comes on a 12-year tenor. In a statement, Enel Green Power says the pricing is “in line with market benchmark” and that the loan is “secured by a parent company guarantee”.

Cesce’s coverage is to ensure the usage of Spanish equipment in the projects. Enel Green Power has previously used Spanish companies in the construction and development of its existing 144MW of wind facilities in Mexico and is currently building two additional farms: Sureste (102MW) and Dominica (100MW).