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NEW YORK, Jan. 11, 2021 /PRNewswire/ -- Grenergy Renovables S.A. ("Grenergy"), with Natixis as Sole Lead Arranger, Hedge Provider, LC Issuing Bank and Administrative Agent, have successfully closed senior secured facilities totaling US $91 million for an expected 130 MWp portfolio of 14 solar photovoltaic ("PV") plants in Chile. This marks Natixis' first transaction with Grenergy and was fully underwritten by Natixis.
The Grenergy portfolio consists of solar projects that will operate under Chile's special regime for distributed generation projects (known as "PMGD"). Each of the PMGD projects in the portfolio will have capacity of up to 9 MW
AC and will be entitled to sell its energy output at the regulated stabilized price. The financing structure provides Grenergy the flexibility to add projects to the portfolio, subject to meeting predefined eligibility criteria. Grenergy has been active in Chile since 2016 and has 400 MW of capacity connected or under construction.