Genneia’s $131.5 Million Financing of Chubut Norte III & IV

News

Genneia’s $131.5 Million Financing of Chubut Norte III & IV

energia_renovable_bigstock_1

Pérez Alati, Grondona, Benites & Arntsen, Clifford Chance, Tavarone, Rovelli, Salim & Miani, White & Case, Tanoira Cassagne Abogados and Alston & Bird advised on the deal

Genneia signed a long-term financing agreement for US$ 131 million for the construction of the Chubut Norte III & IV wind farms (141 MW). Both projects were awarded under RenovAr 2.0. Financing is provided at SPVs Vientos Patagónicos S.A. and Genneia Vientos Sudamericanos S.A.

The financing involves a 15-year guaranteed non-recourse loan granted by KfW. The KfW loan is guaranteed by the German Export Credit Agency Euler Hermes.

The non-recourse feature allows Genneia to continue growing with independence of its corporate resources. In order to achieve such separation, beyond the financial sophistication effort, the Project Finance process requires the effort and commitment from all areas in the company, both highly demanding in terms of Project Management as well as in the quality of Environmental and Social administration and monitoring practices.

Read full post at GlobalLegalChronicle.com