Elecnor issues BRL-325m bond for new wind projects in Brazil
Osorio wind farm in Brazil. Source: Elecnor
Spain’s Elecnor SA (BME:ENO) said Monday it placed a BRL-325-million bond (USD 81.1m/EUR 73.2m) on the Brazilian market through its wind power arm Enerfin to “boost” its wind farms in the South American country.
The issuance is tied to the wind farm holding company, Ventos do Sul Energia, which runs the 150-MW Ventos do Sul wind complex in Brazil. The trio of 50-MW wind farms within the complex were commissioned throughout 2006 and funds for their construction were fully amortised prior to the issuance.
The bond was placed in two tranches, each priced differently, and the issuance was 3.1 times oversubscribed. The company attributed the high demand to the wind farms’ excellent conditions despite their age due to the management of operation and maintenance (O&M) services, among others.
The Spanish infrastructure builder and renewable energy group said the proceeds will constitute investments in new projects.
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