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.
Country updates
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January 31, 2020
Allianz buys US$88.5m notes for Kiyú wind farm refinancing
Allianz Global Investors has secured a US$88.5 million worth of notes issued by Parque Eolico Kiyu SA to refinance the Kiyú Wind Farm located in Uruguay's San Jose district. Al...
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January 13, 2020
DIF Capital Partners closes investment in 50 MW Cerro Grande wind project in Sierra de los Rios
DIF Capital Partners (DIF), through its DIF Infrastructure V, has closed the 100% acquisition of the 50 MW Cerro Grande wind farm in Uruguay from Enercon and eab New Energy. The project, comprising 2...
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November 19, 2019
Uruguay commissions 500 kV Melo - Tacuarembó transmission line
The National Administration of Electric Power Plants and Transmissions (Administracion Nacional de Usinas y Trasmisiones Electricas) of Uruguay has commissioned the 500kV extra-high voltage (EHV)...
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April 17, 2019
TerraForm launches refinancing for Carape I & II wind projects
TerraForm Power has launched the refinancing of its 95 MW Carape I and II wind farms located in Uruguay. The facility consists of 31 Vestas V112 3.075 MW wind turbines with...
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January 09, 2019
Enel Green Power divests Uruguayan subsidiary to Atlantica Yield
Enel Green Power S.p.A. (EGP) has announced that it has closed the sale of its fully-owned subsidiary Enel Green Power Uruguay S.A. to Atlantica Yield for around US$120 million.
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