This is the second transaction Genneia Project Finance in 2018; two weeks ago signed the Project Finance for Pomona.
Buenos Aires, June 20, 2018 .- Genneia today signed a long-term loan of 132 million dollars international development financial institutions to install wind turbines at wind farms Villalonga, Buenos Aires (50 MW) and North I Chubut, Puerto Madryn, Province of Chubut (28MW).
The loan will be made under the methodology of Project Finance for a period of 15 years with 75% of debt on total project costs. The great achievement of this agreement is that banks will not appeal against the sponsor (Genneia), as its repayment is backed only by the flow of funds to be generated by the projects. Thus, the balance of Genneia not be exposed to the risks of the projects.
That part of the financing will have a guarantee of commercial and political risk by the export agency Danish EKF (since Vestas wind turbines are of Danish origin), and lenders, as well as the EKF itself, will be the Japanese bank Sumitomo Mitsui banking Corporation (agent transaction), the CAF and Dutch development bank FMO.
Genneia is a leader in providing sustainable energy solutions, one of the leading investors in renewable energy projects in Argentina. Currently owns and operates 10 thermal power plants (640 MW) and wind farms Rawson (101 MW) and Loma Blanca IV (51MW). In Rounds 1 and 1.5 of the Renew Program, Genneia was awarded wind projects Villalonga (50 MW), Chubut Norte I (28MW), Pomona, Rio Black (100MW) and Necochea (38MW), all currently under construction, and Round 2 was awarded North Chubut projects III and IV (140MW) and a biomass plant in Tucuman (19 MW). Genneia is also building its first solar park in Ullum, San Juan (82MW), and Madryn Wind Farm (220MW), which will make Genneia the largest wind generator in Argentina (730MW).
Alfredo Bernardi
Manager of Institutional Relations and Sustainability
Tel. 11 6090 3200
