28 Jul '14, 1pm

FRV announces financial closing for 65 MW PV plant in Uruguay

The announcement by FRV follows the signing of a $70 million project finance arrangement with DNB Group and Intesa Sanpaolo, along with $24 million of additional funding tranche from Santander through its Asset and Capital Structuring team. Jacinta marks the first solar power purchase agreement signed with Uruguay’s state-owned company UTE (Administración Nacional de Usinas y Trasmisiones Eléctricas) and is the first FRV project to reach financial close in the region. Once completed, the facility will be one of the largest solar projects in Latin America. It will generate enough electricity to supply approximately 35,000 homes in the area and remove 74,142 MT of CO2 emissions per year. “Jacinta will provide a low-cost source of power to the region and help further Uruguay’s goal in order to transform its current mix of energy over the next few year with an increasing penet...

Full article: http://www.renewableenergyfocus.com/view/39503/frv-announ...

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