Canadian Solar has closed a US$50 million non-recourse loan financing for its 100.1 MW Cafayate solar photovoltaic plant in Argentina.
The project financing was arranged by the Development Bank of Latin America (CAF). The current loan financing includes a US$30 million CAF A-loan, a US$15 million parallel loan from the Argentinian Development Bank of Investment and Foreign Trade (BICE) and a US$5 million parallel loan from the Bank of the City of Buenos Aires (Banco de la Ciudad). The loans from CAF and BICE have 15-year tenor while a 10-year term is for the loan package from Banco de la Ciudad.
The project is currently in the construction phase with expected completion by the second quarter of 2019. Once operational, the solar plant sells its power output to Argentina's wholesale electric market management company CAMMESA at a price of USD 56.28 per MWh.
Country updates
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January 18, 2019
28 MW wind project in Argentina starts commercial operation
The 28.35 MW Chubut Norte I Wind Farm located in the town of Puerto Madryn, has been inaugurated. The wind park was awarded by the Secretary of Energy through the RenovAr 1 Program. It has 8 wind tur...
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January 08, 2019
Tender launched for Portezuelo del viento hydropower PPP project in Mendoza
The Government of Argentina through the Ministry of the Interior, Public Works and Housing has launched tender for the development of the 210 MW Portezuelo del viento hydropower project. The fa...
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December 29, 2018
Mitsui & Co agrees to acquire 34% stakes in Viento Los Hercules wind project from Total Eren
Mitsui & Co has reached an agreement with Total Eren for the sale of its 34% stakes in the 97.2 MW Viento Los Hercules wind park located in Santa Cruz, Argentina. The US$220 million pr...
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December 21, 2018
Genneia SA puts 3 renewable power plants in operation in Argentina
Genneia SA has successfully put 3 renewable power plants in Argentina into operation. The facilities that were connected to the national grid are the following: 25 MW Ullum N1 photovoltaic solar pr...
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December 21, 2018
Construction works begin at 117 MW Argentinian solar PV project
Scatec Solar and Equinor have started construction of the Guanizuil IIA solar plant located in the Province of San Juan in the northwest of Argentina utilising the agreed Equinor bridge loan facility....
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