Ardian and Solarpack refinance DFC debt on three solar projects

In:

Renewable energy

Region:

Americas

Peruvian solar plant SPVs Moquegua, Tacna Solar, and Panamericana Solar - all jointly owned by Spain's Solarpack and France's Ardian - have sealed three financings worth a total of $226.5 millon.

The facilities refinanced existing US International Development Finance Corporation (DFC) debt for three projects in Peru with an aggregate capacity of 67.9MW: The Moquegua Power Plant 19.4MW, the Tacna Solar Power Plant 24.9MW, and the Panamericana Solar Power Plant 23.6MW.

The lenders, BNP Paribas, Societe Generale, and Sumitomo Mitsui Banking Corporation, were advised by Garrigues Peru. Administrative agent was BNP Paribas; while Citibank was collateral agent and account bank; and Astris Finance was financial advisor to the sponsors.

Garrigues Peru provided local legal counsel to the lenders, with Milbank as New York counsel, and Rodrigo, Elías & Medrano Abogados acted for the borrowers.

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