Agence Francaise de Developpement (AFD), Frances development agency, has approved a €66 million ($77.7 million) loan to the Bolivian state to finance two wind sites. The 21MW Warnes project in the eastern department of Santa Cruz and the 24MW Ventolera development in southern Tarija are expected to cost $110 million to build, with the balance to be provided by the Bolivian government.

Both wind farms will be developed by Bolivian state power company Ende, and operated and maintained by Ende`s renewables arm, Corani. The loan is the second under a memorandum of understanding Bolivia and France signed last year to finance up to €700 million ($824 million) worth of projects in renewable energy, water and waste, and the environment.

Bolivian government has set a target of sourcing 75% of its electricity from renewable technologies by 2025, up from 30% currently, with much of the electricity being exported to neighbouring markets. Last year, Corani completed the expansion of Bolivia`s first wind project, adding eight new turbines and lifting capacity from 3MW to 27MW. The company is also preparing two more wind sites in Santa Cruz, El Dorado and San Julian with a combined installed capacity of 70MW.