Solarpack has closed a senior financing package for the 300 MW San Martin solar PV plant in Peru for a total amount of US$176.6 million.
The financing has been signed with lenders Crédit Agricole Corporate and Investment Bank, Natixis Corporate & Investment Baking, BBVA and BNP Paribas, using a project finance structure, being the first renewable project financed in Peru based on a Power Purchase Agreement (PPA) between private parties.
The Solar PV project is currently under construction and is expected to generate more than 819 GWh per year, equivalent to the annual electricity consumption of more than 440,000 homes. In addition, it will prevent the emission of more than 564,000 tonnes of CO2 each year.
In addition to the senior financing package, San Martín has also closed with BBVA, a revolving credit facility for up to US$19 million to fund working capital requirements during the project's construction.
Engie Energía Perú has announced the start of commercial operations for the 260 MW Punta Lomitas Wind Power Plant located in the Ica Region's district of Ocucaje in Peru.
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The Inter-American Development Bank (IDB) has approved a US$125 million loan for a 500 kV power line that will help Ecuador and Peru connect their electrical grids.
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ENGIE Energía has signed a US$300 million loan agreement with IDB Invest for the financing of the Punta Lomitas Wind Power Project located in Ica, Peru.
Read moreAbengoa has been selected for the construction of an electric transmission line that will allow the energy from the future Punta Lomitas wind farm of 260 MW located in the southern region of Ica, Peru.
Read moreThe Ministry of Energy and Mines (MEM) of the Government of Peru has signed a Framework Cooperation Agreement with the Energy Research Centre of the Netherlands (ECN) in order to promote planning and action on energy efficiency, as well as the generation and use of renewable energies, with the aim of stimulating sustainable economic and energy development in Peru.
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