Repsol Ibereólica Renovables Chile, a JV between Repsol Chile and Ibereólica Renovables Chile has obtained obtain financing for the construction and operation of a wind farm in northern Chile.
The 165.3MW Atacama Project benefits from a long-term power purchase agreement with an unnamed business.
Credit Agricole CIB advised Repsol and Ibereólica on the US$118m (€116.9m) deal
The financing structure of the project was tailored to maximize debt based on financial and operating cash flows and with the goal of maintaining robust credit metrics, Credit Agricole said.
As a result, the transaction received significant interest from various banks and was oversubscribed, it added.
Crédit Agricole CIB general manager of the Energy division and Infrastructure for Latin America Mathieu Rousson said: “It is an honor for Crédit Agricole CIB that Repsol and Ibereólica have trusted us to obtain a competitive financing package, which marks a valuable precedent in the development of their joint venture in Chile.”
Repsol and Ibereólica formed their JV in 2020 to develop, build and operate a portfolio of renewable assets in Chile.