Financial Closure For 100 MW Reden Solar Portfolio

100 MW Distributed Generation Solar PV Portfolio Of Reden Solar Chile Secures $96.4 Million Through Reden Investments & Natixis
10:46 AM (Beijing Time) - 10. October 2019

Key Takeaways

  • Reden Solar Chile’s 100 MW solar PV portfolio in Chile has secured financial closure with $96.4 million
  • These projects will be developed under Chile’s special regime for distributed generation projects—PMGD
  • The loan as senior facilities was arranged through Reden Investments Chile and Natixis
  • The proceeds will help Reden finance the construction of these projects and also enable it to add additional solar projects

Reden Solar Chile has secured $96.4 million through senior facilities for up to a  100 MW distributed generation PV plant portfolio in Chile through Reden Investments Chile SpA and French financial services firm Natixis.

Proceeds of the transaction will be used to finance these projects. It will also provide the subsidiary of French independent renewable power producer Reden with flexibility to add additional solar PV projects to its portfolio under Chile’s special regime for distributed generation projects referred to as PMGD. The government remunerates such projects at a regulated stabilized price, said Reden Solar.

Owned by Infravia and Eurazeo, Reden Solar (previously Fonroche Solaire) had developed over 450 MW of solar power capacity by the end of 2018. As per information on its website, Reden also has two solar module production lines of 65 MW annual capacity.

Natixis says this is its second PMGD loan portfolio term financing with the first one arranged in July 2019 for 70 MW solar portfolio of ARCO 3 SpA.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

Write, follow the author.

Anu Bhambhani