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.
Country updates
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September 21, 2018
GP JOULE to develop two 9 MW wind farms in Chile
GP JOULE has announced that it is developing its first wind project in South America and will be installing two small on-shore parks in Chile in cooperation with the German company Energy Kitchen...
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September 17, 2018
Chile's Coquimbo Environmental Assessment Commission approves 9 MW solar PV project
The environmental impact statement submitted by Sunhunter Photovoltaic Park SpA, which considers an investment of US$12 million for the Ovalle commune, has been approved by the Environmental Assessmen...
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September 07, 2018
Mainstream Renewable Power launched sale of stakes in Chilean subsidiary
Mainstream Renewable Power has launched the search for an equity partner to help build and run $1.65 billion of wind and solar plants in Chile. It has commissioned KPMG to seek expressions of int...
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August 31, 2018
Acciona to power LATAM Airlines in Chile with renewable energy
Acciona has signed a contract to supply 100% renewable electricity to the two main facilities of LATAM Airlines Group, the biggest airline group in Latin America, from September this year.
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August 25, 2018
Chile inaugurates 82 MW Punta Sierra wind farm
The Punta Sierra wind farm in Ovalle, in Coquimbo Region of Chile is ready to generate clean and renewable energy. It is the first Pacific Hydro wind farm in the country and the first wind farm financ...
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