Argentina's Genneia issues USD-73m green bond for wind, solar projects

Argentine power producer Genneia SA said on Friday it had issued green bonds worth around USD 73 million (EUR 68.4m) to raise funds for new renewable energy projects.

The interest rate on the bond was set at 4.5%. Moody’s Local Argentina rated the notes AA-.ar with a stable outlook, Genneia said.

The company will use the proceeds to finance the construction of the 103.5-MW phase of the La Elbita wind farm project in Buenos Aires province and the 60-MW Tocota III solar PV project in San Juan.

Both plants will produce electricity for large industrial consumers under Argentina’s MATER power purchasing scheme.

Last year, Genneia said it would invest some USD 200 million in these two projects.

(USD 1.0 = EUR 0.937)

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