Innergex has refinanced its renewables assets in Chile, including three operating wind farms, which it acquired earlier this year.
The package includes the issuance of green bonds worth US$710 million plus a US$93.1 million letter of credit facility. Of this, US$176.2 million will be used to finance the acquisition of the 170MW Sarco, 129MW Aurora and 33MW Cuel wind farms from Mainstream Renewable Power and investment fund Actis. The deal closed in June.
“The positive reception from investors is a reflection of Innergex’s financial strength and growth prospects in Chile,” said CEO and President, Michel Letellier. “Our team was able to secure more favourable terms on our refinancing allowing for additional financial flexibility and extending the average maturity.”
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