Natixis leads US$ 360 million financing round for 360MW of distributed generation in Chile

Aug 23, 2022 08:51 AM ET
  • Natixis Corporate & Investment Banking (Natixis CIB) has actually led a US$ 360 million financing round for a Chilean PV portfolio consisting of more than 360MW.
Natixis leads US$ 360 million financing round for 360MW of distributed generation in Chile
Image: Thomas Griggs via Unsplash

The solar PV portfolio, sponsored by Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and also CarbonFree Modern technology, is made up of 53 solar PV PMGD (Pequeños Medios de Generación Distribuida in Spanish), which are distributed generation solar PV plants of less than 9MW with a controlled, stabilised cost for exported power.

The solar portfolio includes 250MW of running projects as well as 110MW currently in or ready to get in building and construction, which will be totally operational in the 2nd fifty percent of 2023.

The funding is included a US$ 19 million credit facility, a US$ 71 million bridge-loan facility to money recurring costs and also the continuing to be quantity as private placement center that will mostly be made use of to refinance existing bank debt as well as repay bridge-loan facility once the projects are finished.

Moreover, this will stand for the largest PMGD portfolio financing in Chile both in regards to mounted ability and also variety of projects, according to the Natixis

In the past three years, the business has actually financed twelve PMGD projects in Chile-- consisting of a US$ 87 million investment for 100MW with Sonnedix in 2020 as well as a similarly-structured deal with regional programmer CVE Chile the year before-- with greater than US$ 1.5 billion bought the Latin American nation's distributed generation market.

Aitor Alava, handling supervisor and also head of infrastructure and also power money for Latin America at Natixis CIB, claimed: "This effective collection of purchases builds on our substantial record of advancement in Latin America as well as solidifies our position as the 'one-stop-shop' for PMGD project programmers looking for innovative financing remedies."

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