US renewable energy company Invenergy LLC announced that its 64.8 MW PV »La Jacinta« solar project, located in the Salto Department of Uruguay, issued a 24.5-year investment-grade rated project bond for approximately $64.75 million in the US private placement market. The deal was structured and arranged by DNB Markets, Inc. and IDB Invest, and was marketed by DNB Markets, Inc.
Invenergy has purchased the »La Jacinta« solar farm from its developer Fotowatio Renewable Ventures (FRV) in March 2017. The facility began commercial operations in September 2015. The facility generates power from 216,000 BYD solar modules, 50 Ingeteam inverters and 25 step-up LV/MV (low voltage/medium voltage) transformers and is delivered to the country’s grid under an approximately 26-year remaining power purchase agreement with Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE), the Uruguayan state-owned utility. The proceeds of the project bond issuance will be used to refinance the existing construction loan.
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