Grenergy Renovables S.A. as well as Natixis Close Solar PV Portfolio Financing in Chile

• Grenergy Renovables S.A. (" Grenergy"), with Natixis as Sole Lead Arranger, Hedge Provider, LC Issuing Bank and Administrative Agent, have efficiently closed senior safeguarded facilities totaling United States $91 million for an anticipated 130 MWp portfolio of 14 solar photovoltaic (" PV") plants in Chile. This marks Natixis' first purchase with Grenergy and also was fully underwritten by Natixis.

The Grenergy portfolio contains solar projects that will certainly operate under Chile's unique regimen for dispersed generation projects (known as "PMGD"). Each of the PMGD projects in the portfolio will certainly have ability of up to 9 MWAC and will be entitled to market its power output at the regulated maintained cost. The financing framework offers Grenergy the versatility to add projects to the portfolio, based on fulfilling predefined qualification standards. Grenergy has been active in Chile because 2016 as well as has 400 MW of ability connected or under construction.

Grenergy approximates that the projects in the portfolio will create an approximated 311 GWh in green power as well as offset about 108,900 lots of co2 (CO2) per year. The construction of the projects will certainly strengthen Grenergy's position in Chile, where the firm presently has roughly 2.6 GW and anticipates to continue its development in the coming years.

According to Grenergy's CEO, David Ruiz de Andrés, "Closing the funding of this PMGD portfolio in Chile will make it possible for Grenergy to achieve its tactical goal of possessions under operations in 2021 and also shows that Chile stays a key market for the firm with a solid dedication to competitive and environment-friendly power."

"This marks the 7th PMGD term financing for which Natixis has actually served as Sole Lead Arranger in the last 2 years, representing virtually $600 million. These deals better consolidate Natixis' leadership among financial institutions in the PMGD room as well as LatAm facilities a lot more broadly," claimed Aitor Alava, Managing Director, Head of Infrastructure Finance, Latin America at Natixis.

The PMGD program was produced in 2005 with the objective of incentivizing a lot more distributed as well as greener electrical energy generation. The projects in the Grenergy PMGD portfolio also add to the Chile's more comprehensive energy shift as it considerably retires coal plants as well as heads towards long-term carbon-neutrality.