Argentina's YPF Luz issues green bond to fund 100-MW solar project

Solar power plant. Source: Gamesa Electric

February 3 (Renewables Now) - Argentine power producer YPF Luz has issued green bonds worth USD 63.9 million (EUR 56.4m) to finance the construction of its first solar project at home, the company said on Wednesday.

The dollar-linked notes bear a coupon of 5% and mature in ten years.

The proceeds from the company's maiden green issuance will be used to fund the Zonda solar project, which in the first phase will have 100 MW of capacity. The plant could eventually be expanded to 300 MW, YPF Luz said.

The first phase will require an investment of USD 93 million.

The Zonda solar farm will occupy a 300-hectare (741.3 acres) area located in Bella Vista, San Juan province.

Once up and running, the plant will be capable of generating enough power to meet consumption needs of some 70,000 homes. YPF Luz will sell Zonda's output to large industrial consumers under the Argentine purchase mechanism MATER.

(USD 1.0 = EUR 0.883)

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