Arroyo Seco Co-generation Power Plant

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The project envisages the financing, construction and operation of a 133 MW co - generation power plant located in Arroyo Seco, province of Santa Fe. Generacion Centro is the project company developing the project on behalf of the sole sponsor Albanesi Group. Concession contract was awarded to Albanesi Group in August 2017 following a competitive tender launched by Energy ministry. The generated electricity will be sold to Argentina’s wholesale electricity market administrator (CAMMESA) in a 15-year power purchase agreement. The facility also have PPA to supply electricity and steam to the merchant and processor of agricultural goods Louis Dreyfus Company, as well as to Renova. The debt financing for this particular project amounts to $225 million. It is part of a larger project finance package including $170 million used to refinance previous debt for Timbues Co-generation Power Plant. UBS and Credit Suisse were joint lead arrangers and also lenders on the debt facility. The loan was syndicated with a group of local banks including: Banco Hipotecario, Banco de Crédito y Securitización (BACS) and Banco de Inversión y Comercio Exterior (BICE). As of June 2018, no equity contribution was reported. Financing closed on May 1st, 2018. https://ijglobal.com/data/transaction/41606/arroyo-seco-cogeneration-power-plant-133mw-and-timbues-cogeneration-power-plant-170mw-refinancing http://www.globallegalchronicle.com/albanesi-energias-395-million-financing-for-the-construction-of-arroyo-seco-power-plant/