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Atlas Renewable Energy issues green bond for projects in Chile

Solar power plant. Source: Gamesa Electric

March 4 (Renewables Now) - Atlas Renewable Energy has issued a green bond of USD 253 million (EUR 227.7) to refinance an operating solar photovoltaic (PV) park in Chile and build a new one.

The notes were issued in a private placement by the company's subsidiaries to refinance the 70-MWp Javiera facility and build the 244-MWp Sol del Desierto PV project.

Norway's DNB Markets, part of DNB Bank ASA, served as the sole lead placement agent for the notes, Atlas said. The bond is certified as green and rated investment grade, with BBB- rating assigned by Fitch Rating.

Javiera, located in the region of Antofagasta, has been operating under a power purchase agreement (PPA) with Chilean copper miner Minera Los Pelambres since 2015.

Sol del Desierto, a greenfield project, is currently under construction in the Atacama Desert. The PPA for its future output was closed with power company Engie Energia Chile SA. The solar park is expected to start serving the off-taker by 2022.

(USD 1.0 = EUR 0.90)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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