SOLARIA HAS CLOSED AN AGREEMENT WITH METLIFE AND IDB INVEST TO REFINANCE ITS URUGUAYAN ASSETS ISSUING ITS FIRST GREEN BOND.

November 2020

Madrid, 17 November 2020

We are pleased to announce Solaria has closed an agreement dated as of November 16, 2020 with the American insurance company Metlife and the Inter-American Investment Corporation (IDB Invest) for the debt refinancing of its two Uruguayan PV plants Yarnel and Natelu (23MW), for an amount of approximately $29mn and a duration of twenty years, subject to fulfilment of all conditions precedent to disbursement.

Project debt has received a BBB credit rating and a green qualification by Standard & Poor’s.

Thanks to this operation, the company will reduce the cost of financing and double the dividends received by these two assets.

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SOLARIA manages and operates photovoltaic plants with a total generation capacity of more than 410 MW.

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