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Isolux expects to refinance T-Solar's debt by end 2015 - report

December 11 (SeeNews) - Spanish engineering and construction group Isolux Corsan expects to close the refinancing of EUR 600 million (USD 656.5m) debt of its solar power subsidiary T-Solar by year-end, Europa Press said Friday, citing sources from the group.

The refinancing will extend the debt with a group of banks by six years in line with current sector rules and will facilitate the sale of T-Solar. The company has photovoltaic power plants with a combined capacity of 326 MW in eight countries. Most of the plants are located in Spain and were affected by the energy reform.

Isolux expects to pocket EUR 600 million to EUR 700 million from the sale of T-Solar and 3,842 km (2,387 miles) of transmission lines in Brazil.

(EUR 1 = USD 1.094)

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Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.

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