- Press Releases
September 15 (Renewables Now) - Chilean independent power producer (IPP) CVE Chile has closed a financing agreement with French bank Natixis SA to obtain funds for the construction of some 150 MWp of solar projects in Chile, the lender announced on Tuesday.
A senior secured facility totalling USD 95 million (EUR 80.3m) will finance the company’s portfolio of several distributed generation (DG) solar projects of up to 9 MW. In Chile, these are known as PMGD projects, a Spanish acronym for small-scale distributed generation, and as such are entitled to sell their output at a regulated stabilised price.
Natixis served as sole lead arranger, hedge provider, LC issuing bank and administrative agent in the transaction, it said.
“The financing structure provides CVE with the flexibility to add other projects to the portfolio, subject to meeting pre-defined eligibility criteria”, the bank said in a statement.
CVE Chile operates as the Chilean subsidiary of French renewable energy IPP CVE Group.
(USD 1.0 = EUR 0.845)