Invenergy issues bonds to back 70-MW wind project in Uruguay

Invenergy wind farm. Source: Invenergy (www.invenergyllc.com).

Aug 4 (Renewables Now) - Invenergy Renewables LLC said on Thursday it has issued USD 135.8 million (EUR 114.4m) of green bonds related to its 70-MW Campo Palomas wind farm in Uruguay.

The obtained funds will go for the refinancing of an existing construction loan. The bonds were issued by Invenergy’s renewables unit Invenergy Renewables LLC in an oversubscribed offering on the US private placement market and received Baa3 rating from Moody's Investors Service. The issuance was carried under an A/B Bond structure involving a capital markets solution under the umbrella of the Inter-American Investment Corporation (IIC), the private sector unit of IDB Group.

The Campo Palomas wind park in Salto department, Invenergy’s first project in Latin America, was put on stream earlier this year. Being powered by 35 V110-2.0 MW turbines supplied by Danish company Vestas Wind Systems A/S (CPH:VWS), it generates electricity for the national power grid. The output of the plant is sold to state-owned utility Administracion Nacional de Usinas y Trasmisiones Electricas (UTE).

(USD 1.0 = EUR 0.842)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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