Product: Project Finance: Senior Secured Long Term
Role: Mandated Lead Arranger
Total project cost: USD 66.4MM
Environmental Category: B+
Impact: 260 jobs generated during construction / 74 jobs during operation.
Financial clousure: 2018
CIFI, as the mandated lead arranger, participated with US$ 11.7MM in a US$ 46.5MM senior secured long- term financing to Genergiabio S.A as the borrower and BAS Projects Development 2, S.L. and Papelera Mediterranea S.A as the sponsors to finance an 18MW biomass power plant in Argentina. Prior to this loan CIFI provided a bridge loan of US$ 10MM.
The project consists in the development, construction, and operation of an 18MW biomass (wood) power plant in the province of Corrientes, Argentina. The plant will be constructed within the premises of Santa Rosa Industrial Park to provide energy for the city and the timber mills.
Santa Rosa Biomass Plant will provide a cleaner more reliable source of energy for the region, that will boost the timber industry, reduce pollution, repurpose waste and provide decent employment to local communities.