- The financing structure includes a US$ 10.3 million senior loan and a US$ 2.3 million VAT financing tranche.
- The projects in the portfolio correspond to the small-medium distributed generation “PMGD” regime in Chile.
As part of its efforts to contribute positively to the environment, CIFI joins forces with Spanish developer Enerside, an expert in the construction and maintenance of clean energy generation projects, to finance a portfolio of solar energy capture plants in Chile.
The portfolio is at an advanced stage of development, which will allow construction to begin on schedule and track during the first half of 2022. The total cost is expected to be close to US$17MM upon completion of all stages.
CIFI executives expressed their pride in its growing presence in the clean energy market in Chile. Together with Enerside Energy, CIFI is participating in a project that will help avoid the production of 13,350.25 tCO2eq/year and reduce the carbon footprint by promoting clean and renewable energy sources.
For 15 years, Enerside has specialized in developing, construction, operation, maintenance, and exploitation of electricity generation projects based on non-conventional renewable energies, including their infrastructure and installation.
This company has a presence in Spain, Brazil, Peru, Chile, and Uruguay. It has an asset ownership strategy as an Independent Power Producer (IPP) and employs more than one hundred experienced professionals.
At year-end 2021, it reported total assets of US$21.5 million, net equity of US$9.2 million, and operating income of US$0.6 million.
AtZ Investment Partners was Enerside’s financial advisor in this transaction.
CIFI (Corporación Interamericana para el Financiamiento de Infraestructura, S.A.) is a nonbank financial institution that has been actively lending in Latin America and the Caribbean since 2001.
It has analyzed more than 600 projects and participated in more than 200 transactions totaling more than US$1.8 billion. This investment consolidates its position as a leading participant in developing sustainable infrastructure projects in Latin America and the Caribbean.