Cancura

Chile’s commitment to decarbonization is fueling a renewable energy surge, and in the heart of the Araucanía region, the Cancura Wind Farm stands as a beacon of this transformation. With a planned capacity of 36.6 MW and a dedicated 66 kV substation, Cancura is designed to harness the region’s strong wind resources, delivering clean, reliable electricity to thousands of households and businesses while supporting Chile’s ambitious energy and climate goals.

The project is led by Windin Capital, an equity fund based in Herzliya, Israel, established in 2020 as the investment arm of Aveeram Wind Ltd. With a portfolio exceeding 2.5 GW of onshore wind projects in the UK and Israel, and more than 500 MW under development, Windin Capital brings deep technical and operational expertise. Their experience in Chile includes the successful acquisition and operation of the La Flor wind farm, highlighting their commitment to expanding renewable energy across Latin America.

Cancura’s location near Angol combines strong, steady winds with easy grid access, making it an ideal site for utility-scale generation. The project aligns closely with Chile’s national energy transition, helping the country move toward net-zero emissions by 2050 while stimulating local economic growth.

To bring Cancura to life, Windin Capital entrusted CIFI with the structuring of a tailored financing solution. As Mandated Lead Arranger, CIFI mobilized USD 34 million through a multi-tranche facility, segmented into three phases with maturities ranging from 5 to 17 years. This funding supported both the construction and operation of the Cancura Wind farm, covering the majority of the capital requirements for a project whose total cost amounts to USD 55.8 million. 

The transaction mobilized a diversified lender group, including CIFI, Triodos Bank, BICSA, and responsAbility, integrating both international and regional financial institutions to optimize risk distribution and reinforce institutional oversight. This structure reflects a robust syndication strategy aligned with long-term sustainability and credit enhancement objectives.

The project benefits from a Power Purchase Agreement (PPA) that was signed with Generadora Metropolitana Holdings S.A. (GMH), a joint venture between Andes Mining and Energy Corporation and Electricité de France (EDF). The PPA secures approximately 70% of Cancura’s output at USD-denominated prices, with the remainder sold on the spot market. This structure provides stable, predictable revenues and mitigates market risk.

CIFI’s approach extended beyond arranging financing. The team coordinated due diligence, managed stakeholder engagement, and ensured compliance with international standards, including the IFC Performance Standards and Equator Principles.