Natixis Closes Marcona & Tres Hermanas Financings in Peru. Marcona is Peru’s First Commercial-Scale Wind Project to Achieve Commercial Operations
Natixis announces the closings of two financings for wind farms in Peru, Parque Eolico Marcona (Marcona) and Parque Eolico Tres Hermanas (Tres Hermanas). For these “twin” projects, Natixis acted as Sole Institutional Tranche Underwriter; Sole Subordinated Loan Placement Agent; and Sole Hedging Provider; and, together with Corporacion Andina de Fomento (CAF), acted as Financial Advisor and Mandated Lead Arranger.
In addition to Marcona being the first commercial-scale wind project to achieve commercial operations in Peru, these two financings, for a total of $254 million, are also noteworthy because they comprise various debt instruments:
Junior Debt and Senior Debt, including a fixed-rate tranche specifically designed to attract institutional investors
A variety of sources of liquidity through the involvement of an Export Credit Agency, several Multilateral Institutions, and a Commercial Bank
A long tenor which approaches the concession length and fits with the Sponsor’s needs.