Atlas Renewable Energy, a renewable energy company in Latin America, has obtained a $67 million loan from IDB Invest, a member of IDB Group, and DNB Bank ASA (Norway) to finance the construction of 187 MW Jacaranda solar project being developed by Atlas in Brazil. The loan was secured from IDB Invest, including the Clean Technology Fund and the Canadian Climate Fund for the Private Sector in the Americas – Phase II, both administered by IDB Invest, which provided a portion of the loan, together with participation from DNB Bank ASA.
France’s renewable energy project developer Neoen has achieved financial close on Western Downs Green Power Hub, a 460 MW solar project located near Chinchilla in South West Queensland. The company has secured debt for the project from a consortium of seven lenders that includes Natixis, Societe Generale, Sumitomo Mitsui Banking, MUFG Bank, Nord/LB, HSBC, and Commonwealth Bank of Australia. The overall investment required for the project is seen at A$600 million (~$426.5 million).
French independent renewable power producer Reden Solar has secured $81.5 million senior loan facilities from French multinational financial services firm Natixis for its expected portfolio of 20 solar PV projects in Chile, representing around 100 MW capacity. Reden is developing these projects through its local subsidiary Reden Development Chile SpA Solar.
Skyline Renewables, a North American renewables company, backed by Ardian, announced that they would finance and manage the construction of a 250 MW solar project in Central West Texas. The Galloway I Solar Project, acquired from 8minute Solar Energy, is scheduled for operation by the end of 2021. Morgan Stanley Renewables is the sole tax equity investor, and Morgan Stanley Capital Group, along with an unnamed major energy marketer, is off-takers for the project.
Statkraft, a Norway-based hydropower company, has signed a 10-year power purchase agreement with BayWa r.e. for the Tordesillas solar project. The solar project, located in Spain, will have a total capacity of 41.7 MW and will be commissioned during the first half of 2021. In the first year of full production, the project is expected to generate around 74GWh of solar energy while reducing over 19 tons of carbon dioxide emissions.
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Read last week’s project finance brief.
Image credit: Solar Works
