Atlas Renewable Energy issues green bond for Javiera and Sol del Desierto PV project in Antofagasta

Atlas Renewable Energy and DNB Markets have announced the private placement of a US$ 253 million bond, which was also certified as a green bond and had the participation of investors from the USA, Europe, and Asia. The bond was rated investment grade (BBB-) by Fitch Ratings (including the construction period of one of the projects) and was issued by subsidiary entities of Atlas Renewable Energy with the objective of refinancing Javiera and building Sol del Desierto, two photovoltaic solar plants located in northern Chile.

DNB Markets acted as sole placement agent in the placement of the bond. The transaction was structured within the Green Finance Framework developed by Atlas Renewable Energy.

The two photovoltaic solar plants are located in the Atacama and Antofagasta regions, in northern Chile, and have a total installed capacity of 314 MWp. Both projects have been combined under the same innovative financing, which gives investors unique structuring benefits and synergies that guarantee cash flow.

Javiera is a 70 MWp operating asset, which provides clean energy under a corporate PPA to Minera Los Pelambres (majority property of Antofagasta Minerals); and Sol del Desierto, a 244 MWp project, which will be built by Atlas Renewable Energy. It is expected that this plant will begin to provide clean energy to Engie Energia Chile SA in 2022. Sol del Desierto will use bifacial technology, which allows the modules to generate energy through the rear and front faces, thus maximizing their efficiency.