• The leading renewable energy company announces the issuance of two notes on the local market that qualify as green bonds.
• The proceeds will be used in financing the construction of the new wind farms La Elbita I and II in the Province of Buenos Aires and the Tocota III solar project in the Province of San Juan.
• The tender process will take place on November 9, 2022.
____
Buenos Aires, November 8, 2022. Genneia, the leading renewable energy generation company in Argentina announces the reopening of the Series XXXV Notes and the new Series XXXVII Notes on the local market, for an aggregate amount to be issued equal to USD 40 million, which may be increased up to USD 80 million. The new Note is the seventh instrument of the company to qualify as a green bond.
The tender process for the Notes on the local market will take place on November 9, 2022 and the proceeds will be used in financing the construction of the wind farms La Elbita I and La Elbita II in the Province of Buenos Aires and the Tocota III solar project in the Province of San Juan. These Notes will be admitted to the Social, Green and Sustainable Bond (SVS) panel of ByMA, the local stock exchange on which the main capital market players trade securities, and it is available for any investor– individuals or institutions- willing to make a profit while also contributing to providing environmental solutions. Such instruments are Dollar-linked i.e., they are denominated in Dollars and will be paid in Pesos at the initial exchange rate. Other characteristics of the Notes:
• Additional Series XXXV Notes will accrue a 0% fixed interest rate, payable quarterly, bullet, due in December 2024 and the tender will be price-based.
• Series XXXVII Notes will accrue a fixed interest rate to be bid, payable quarterly, and will be repaid in three equal installments starting on the 42th, 45th and 48th month due on the 48th month.
Banco Macro will act as Arranger, while Macro Securities, Banco Santander, BBVA, Banco Patagonia, BACS, Balanz, Facimex, MAX and TPCG will act as Placement Agents.
“After leading the placement of Green Bonds in Argentina in 2021, we continue making new investments in renewable energies and productive investments in the country, with projects that help the energy transition,” said Carlos Palazón, CFO of the company.
Tocota III Solar Photovoltaic Project
The solar photovoltaic project Tocota III, located in the northwestern region of the Province of San Juan, will have an installed capacity estimated at 60MW, equivalent to the consumption of approximately 45,000 households. The site chosen for erection extends over 295 hectares and is located 4km away from National Route 412, 50 km to the south of Iglesia.
A total investment of about USD 50 million is estimated for construction. It will be developed over 24 months, including concept design and detail engineering, works for interconnection to the Argentina Interconnection System (SADI) and start-up.
The Tocota III solar photovoltaic project is aligned with the United Nations’ Sustainable Development Goals: #7 Affordable and Clean Energy and #13 Climate Action.
La Elbita I and La Elbita II Wind Power Projects
La Elbita I Wind Power Project will have an installed capacity estimated at 103.5 MW. It will be located in the city of Tandil, Province of Buenos Aires. The site chosen for erection extends over 984 hectares and it is located 4.2 km away from Provincial Route No. 30 and 24 km (straight line) away from National Route No. 226, about 50 km to the south of the city of Tandil.
In turn, the wind power project La Elbita II will have an installed capacity estimated at 36MW. It will be located next to La Elbita I, extending over 483 hectares, accessible from Provincial Road No. 30 and National Route No. 226.
A total investment of approximately USD 210 million is estimated for construction of La Elbita I and II. The project is to be completed within 25 months, including concept design and detail engineering, SADI interconnection works and start-up.
La Elbita I y la Elbita II Wind Power Projects are aligned with the United Nations’ Sustainable Development Goals: #7 Affordable and Clean Energy and #13 Climate Action.