Total Eren closes financing for 159.7 MW greenfield wind portfolio in Rio Grande do Norte

Astris Finance has announced the closing of the financings in connection with Terra Santa and Maral wind projects, consisting in the raising of a BRL423m (US$78.8 million) financing for a 159.7 MW greenfield wind portfolio located in Rio Grande do Norte, northeast Brazil.

As financial advisor, Astris assisted Total Eren with a crafted project financing structure with Banco do Nordeste do Brasil (BNB), which was the sole lender of this transaction. As guarantee to BNB a limited/non-recourse letter of credit for the benefit of lender was provided by a syndicate of three commercial banks active in Brazil.