378 MW Acajutla LNG project in the Department of Sonsonate reaches financial close

Astris Finance has announced the closing of the senior debt financing for the Acajutla LNG project in El Salvador.

The project consists of the development, construction, and operation of a 378 MW LNG-to-power plant at the Port of Acajutla in El Salvador. The project is majority-owned by Invenergy, along with its local partner and original developer, Quantum Energy. Lenders to the project include the Overseas Private Investment Corporation (OPIC), the International Finance Corporation (IFC), Finnish Export Credit Ltd (FEC), and the Inter-American Investment Corporation (IDBI). Astris Finance served as exclusive financial advisor to Invenergy over the multi-year financial structuring process.

The facility successfully raised US$657 million of multi-source limited-recourse financing, consisting of three loans provided by development finance institutions (IFC, OPIC and IDBI), as well as an ECA covered loan with KfW IPEX-Bank as the original lender and facility agent, FEC as the funding provider and the Finnish Export Credit Agency Finnvera guaranteeing the ECA loan.