EnfraGen secures USD 100m of fresh capital for renewables unit

US-based power infrastructure investor EnfraGen LLC has received USD 100 million (EUR 88.7m) in new capital from a group of banks so it could repay publicly traded bonds linked to its renewables arm.

EnfraGen got the funding from a consortium of lenders led by DNB Bank ASA and Societe Generale, New York Branch. Its renewables unit, Fontus Hydro LLC, will also use a portion of the fresh funds as additional capital for further growth, EnfraGen’s parent company, Glenfarne Group LLC, said in a statement.

Last year, Fontus Hydro bought three operational run-of-river hydropower plants (HPPs) in Chiriqui province, Panama. These facilities are supported by contracted revenues and sell their generated electricity into the Regional Electricity Market (MER).

(USD 1.0 = EUR 0.887)

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