El Llano Solar Power Plant

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The project involves the development of a 375 MW El Llano solar photovoltaic farm located 20km east of the town of Aguascalientes, state of Aguascalientes, central Mexico. Sponsor is Neoen SA (France). El Llano was one of the winners of the 3rd Mexican public renewable energy auction in November 2017. El Llano will sell around 70% of the electricity produced at a fixed price of $ 18.93/MWh to a consortium consisting of Comisión Federal de Electricidad (CFE) SSB (a public body), Iberdrola Clientes and Menkent. The remainder of the electricity produced will be sold directly on the Mexican electricity market. The power purchasing contract is for 15 years for electricity and 20 years for clean energy certificates from activation date at the end of Q2 2020. It will be connected directly to CFE’s high-voltage network. Bancomext, Natixis and Société Générale are joint mandated lead arrangers, lenders, and bookrunners and will provide debt for total investment of $280 million (excluding financing costs.) Astris Finance, Norton Rose Fullbright, EOS, PwC, Deloitte, Pöyry, Beecher Carlson and Ester advised the project company on behalf of Neoen. Ritch, Mueller, SC, Shearman & Sterling, UL, Natura, KPMG and Mandy McNeil International advised the lenders. Financial close was announced on 19 March 2019. http://www.webdisclosure.com/finance/stocks/neoen-sa/news/847439.html