EnfraGen unlocks funds for 237 MW of Chilean solar projects

EnfraGen LLC, a developer, owner and operator of grid stability and renewable energy infrastructure businesses in Latin America, announced on Tuesday it had secured financing for a greenfield solar PV portfolio containing around 237 MW DC (175 MW in AC power) of projects.

Through its division Fontus Renewables, EnfraGen obtained USD 200 million (EUR 164.9m) non-recourse financing, with an option of an additional USD 40 million upsizing via an accordion feature, the company said.

Chilean bank Banco de Credito e Inversiones (BCI), BNP Paribas SA (EPA:BNP), DNB Bank ASA and Sumitomo Mitsui Banking Corporation (SMBC) participated in the transaction. BCI additionally provided VAT financing for Fontus Prime Solar SpA.

The money will be used to fund the construction, acquisition, operations and maintenance of the projects.

EnfraGen is jointly controlled by Glenfarne Group LLC and private markets investment manager Partners Group.

(USD 1.0 = EUR 0.824)

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