CHILE: Financial close for 170MW Sarco and 129MW Aurora

Wed Aug 9 2017, 11:44 AM

$410m of project financing secured

Aela Energía has achieved financial close for the 170MW Sarco and 129MW Aurora projects, having secured $410m in project financing. The finance will be provided by a group of multilateral and commercial banks, including Inter-American Development Bank and Inter-American Investment Corporation, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation, Korean Development Bank, Caixa, KfW and Banco Santander. Project financing will account for 70% of the total financing, with the equity partners providing the other 30%. Aela Energía is 60% owned by Actis and 40% by Mainstream Renewable Power. Sarco is located in Freirina, Atacama, while Aurora is located in Llanquique, Los Lagos. Set to comprise Senvion turbines, their construction will now commence. Both projects are due for completion in the second half of 2018.