Atlas finances two Uruguayan solar projects with private placement

Atlas Renewable Energy (Atlas) has closed the long-term financing of its El Naranjal and Del Litoral solar projects in Salto, northern Uruguay. A private placement, placed by DNB Markets and the Inter-American Investment Corporation (IDB-Invest) has been arranged as an A/B Bond structure with a senior and a subordinated note with IDB-Invest as the lender of record.

The combined capacity for the operational projects is 75.8MW and power will be sold for the remaining 25.5 years of the PPA to the state-owned Administracion Nacional de Usinas y Trasmisiones Electricas (UTE).