Atlas Renewable Energy Issues Largest Solar PV Bond in Latin America

Mar 4, 2020 07:57 AM ET
  • Atlas Renewable Energy with DNB Markets has actually introduced the issuance of the biggest solar PV environment-friendly USPP bond in Latin America to day.
Atlas Renewable Energy Issues Largest Solar PV Bond in Latin America

Atlas Renewable Energy with DNB Markets has actually revealed the issuance of a USD 253 million United States exclusive positioning (USPP) in Green Bond style. The notes were ranked financial investment quality (BBB-) by Fitch Rating (consisting of the building duration of among the projects) and also were provided by subsidiaries of Atlas Renewable Energy to re-finance Javiera and also construct Sol del Desierto, 2 solar PV plants situated in the north of Chile. The deal is the biggest solar PV eco-friendly USPP issuance in Latin America to day.

Both solar PV generation possessions lie in the Atacama and also Antofagasta areas in the north of Chile, and also with each other they have actually a complete set up capability of 314 MWp. Both projects have actually been incorporated under a solitary funding profile-- an ingenious framework that offers the capitalists with essential architectural advantages as well as harmonies of cross-collateralized properties and also cross-guaranteed capital. A comparable initial plan was seen in Atlas Renewable Energy's refinancing of its 2 solar plants in Uruguay in 2018, structured by DNB Markets as well as for which the firm was granted the 2018 Structured Bond Deal of the Year.

This time around, the purchase makes up 2 of the business's solar PV projects in north Chile: Javiera is a 70MWp completely functional property, which supplies tidy power under a Corporate PPA with Minera Los Pelambres (majority-owned by Antofagasta Minerals) given that 2015; and also Sol del Desierto, a 244 MWp greenfield project being established by Atlas Renewable Energy, presently unfinished. This plant is anticipated to begin offering tidy power to Engie Energia Chile S.A by 2022. Sol del Desierto will certainly utilize bifacial innovation, which accumulates sunshine not just on the front side yet likewise on the back side to increase generation.

DNB Markets functioned as Sole Lead Placement Agent for the notes. The bond was provided under Atlas Renewable Energy's Green Finance Framework, which is straightened with 2018 variations of the ICMA Green Bond Principles and also the LMA Green Loan Principles. This structure confirms as well as identifies to the business's dedication to establishing projects that maintain the setting as well as shield while sticking to the highest possible requirements of ecological interaction.

" We are really happy with this one-of-a-kind economic option, custom-made for these projects in order to improve financial investment worth" stated Carlos Barrera, CEO of Atlas Renewable Energy, that likewise included. "This purchase shows Atlas' more combination in the resources markets with repeat capitalists throughout numerous projects as well as territories." He proceeded: "It is an enjoyment to deal with and also have the self-confidence of superior financiers as we remain to activate resources to broaden tidy, renewable resource throughout Latin America."

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