Spain's Solaria inks USD-29m debt refinancing for solar farms in Uruguay

Solar power plant. Source: Solaria Energia y Medio Ambiente, SA

November 30 (Renewables Now) - Spanish developer Solaria Energia y Medio Ambiente SA (BME:SLR) has closed a debt refinancing agreement with US insurer Metlife Inc (NYSE:MET) and the Inter-American Investment Corporation (IDB Invest) to reduce the cost of financing of two photovoltaic (PV) plants in Uruguay.

The solar company said that it has secured around USD 29 million (EUR 24.4m) for 20 years, subject to conditions precedent to disbursement. Project debt has been rated BBB and labelled green by Standard and Poor’s.

The agreement concerns the 11.6-MW Yarnel and the 11.1-MWp Natelu solar farms. Both plants were commissioned in 2017.

(USD 1.0 = EUR 0.842)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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