EIG Global Energy Partners and its portfolio company Cerro Dominador have achieved a financial close on the funding of the final stage of construction for its 210 MW combined photovoltaic and concentrated solar power plant in the Atacama desert in Chile.
The funding in July 2018 allowed for the repayment of certain bridge loans as well as payment for the issuance of notice to proceed to finalize the construction of the CSP plant which had been suspended. The PV plant is already operational and the CSP plant is expected to achieve COD during 2020. The works are being executed by Abengoa and Acciona under joint arrangements.
Astris Finance served as financial advisor to EIG and Cerro Dominador on this landmark transaction which included the participation of twelve international project finance banks and institutional investors. Astris advised on the Senior Debt Facilities (which included a senior loan, a VAT loan and a debt service reserve letter of credit) as well as financing at the holding company level.
