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Naturgy issues green bonds for 68 MW of Brazilian PV

Solar farm. Author: Alan Levine.

October 31 (Renewables Now) - Naturgy Energy Group SA (BME:NTGY) of Spain, formerly Gas Natural Fenosa, announced today it has issued BRL 265 million (USD 71.1m/EUR 62.8m) in green bonds to refinance 68 MW of Brazilian solar parks.

The BRL-135-million bond for the Sobral I Solar photovoltaic (PV) farm has been subscribed by a single buyer. It has a term of 15 years and three months. The bond for Sertao I Solar amounts to BRL 130 million and has a term of 14 years and three months.

Both bonds received AAA ratings by Fitch. Banco Santander and Itau banks acted as underwriters. With these issuances, Naturgy optimises the financial structure of the project in accordance with its strategic plan, it noted.

(BRL 1 = USD 0.27/EUR 0.24)

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Browse all articles from Lucas Morais

Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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