Metlife, IDB closes refinancing with Solaria for its two solar power plant

Solaria has closed an agreement with the American insurance company Metlife and the Inter-American Investment Corporation (IDB Invest) for the debt refinancing of its two Uruguayan PV plants Yarnel and Natelu (23 MW), for an amount of approximately USD$29 million and a duration of twenty years, subject to fulfillment of all conditions precedent to disbursement.

Project debt has received a BBB credit rating and a green qualification by Standard & Poor’s.

With this operation, the company will reduce the cost of financing and double the dividends received by these two assets.