Deal details

GIP Atlas Renewable Energy Acquisition - Green HoldCo Financing

Description

The Atlas Renewables Portfolio (“Atlas”) is the 3rd largest renewable portfolio in Latin America and 2nd largest solar portfolio in Latam. Atlas was created by Actis in 2017 and today has a capacity of 2,298MWp split through 14 highly contracted solar assets located in Chile, Brazil, Mexico and Uruguay. Out of 14, the financing focuses on the 9 Assets representing 1,637MWp, backed by long term USD-denominated PPAs (~ 15 years remaining) with creditworthy offtakers (BBB- weighted average). As of closing, 8 Assets were in operation and 1 in its final stages of construction.The innovative USD 525mm non-recourse 5-year holdco green financing includes (a) a USD 375mm Term-Loan to finance part of the acquisition and (b) a USD 150mm Revolving Capex Facility that will support GIP and Atlas in their pipeline growth strategy in the next 3 years and the construction financing of new eligible assets in the renewable space in Latam.

Assets involved

Companies involved

  • BNP Paribas
  • Machado Meyer, Latham & Watkins, Posadas, Posadas & Vecino, NautaDutlih Advocaten, Morales & Besa
  • Scotia Bank (The Bank of Nova Scotia), Sumitomo Mitsui Banking Corporation (SMBC), BNP Paribas
  • BNP Paribas
  • Engie Energía Chile, Discos Chile, CFE, Universidad Técnica del Estado, Anglo American
  • IHS Markit, PSR
  • Milbank LLP, Barros y Errázuriz Abogados
  • PricewaterhouseCoopers ( PwC )
  • BNP Paribas
  • BNP Paribas
  • BNP Paribas
  • Leidos
  • BNP Paribas
  • Global Infrastructure Partners (GIP)

Key information

GIP Helios Luxco 2 S.À R.L.

525$m

06-10-2022

Renewables / PV solar

Brazil

Project & Infrastructure Finance

Not PPP

Tranche information

Term Loan

375$m

US Dollar - USD

0

5.0 years

-

-

-

Revolving credit facility

150$m

US Dollar - USD

0

-

-

-

-