Yinson Renewables Secures US$59 Mln Financing For Matarani Solar Project

KUALA LUMPUR, Nov 28 (Bernama) -- Yinson Holdings Bhd’s renewables business unit, Yinson Renewables (YR), has secured a US$59 million (US$1=RM4.4325) senior secured green financing facility for the Matarani solar project in Peru from IDB Invest and Natixis Corporate & Investment Banking (Natixis CIB).

YR chief financial officer Vegard Urnes said the financing marked a significant milestone for the company in Latin America. He said this achievement not only underscores YR’s commitment to advancing renewable energy solutions but also highlights the importance of strategic partnerships with institutions like IDB Invest and Natixis CIB.

“This collaboration is a testament to our shared vision of fostering sustainable development and addressing climate change. We look forward to continuing our work in Peru and beyond, leveraging these strong partnerships to drive future projects that contribute to a greener and more resilient energy landscape,” he said in a statement today.

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YR said Natixis CIB acted as the sole structuring bank, green loan coordinator, and joint lead arranger alongside IDB Invest.

The 97 MWp (megawatt peak) Matarani Solar Plant, located near Arequipa, Peru, is backed by a long-term power purchase agreement with Orygen, the country's leading renewable energy supplier and generator. The project is a milestone in Peru’s energy sector, as it is the first non-subsidised operational solar plant to be financed through a green project finance facility.

-- BERNAMA