Hidronormandia Plant

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Hidronormandia plant is a 49.6 MW run-of-river hydroelectric power facility on the Upano River in southwest Ecuador. Once completed, this renewable energy plant is expected to produce 338.6 GW/h of electricity a year, which should meet the needs of around 170,000 households. Hidronormandia S.A is a special purpose vehicle incorporated in Ecuador to develop and construct the plant on behalf of the sponsors - Ecuaenergia and NormanTrust Group holding 60 and 40 per cent, respectively. To the best of our knowledge, the project company has not entered into a long -term PPA. However, Ecuador enjoys a competitive wholesale market and output would most probably be sold to the spot market. Financial closure was achieved on February 20, 2017. The Inter-American Investment Corporation has closed a USD78 million financing package backing the project. The total cost of the plant is USD111.4 million and the financing includes: a $44 million IIC loan – comprising an A loan of $10 million and a B loan of $34 million from Cordiant, Oikocredit, Triodos Groenfonds and Corporacion Interamericana para el Financiamiento de Infraestructura. It also includes co-loans from FMO and the Canadian Climate Fund for the Private Sector in the Americas for $24 million and $10 million. The loans have a 11-year tenor. http://www.globallegalchronicle.com/hidronormandia-s-a-secures-78-million-loan/ https://ijglobal.com/data/transaction/37677/hidronormandia-hydropower-plant-496mw https://www.fmo.nl/project-detail/50485 http://www.iic.org/en/media/news/iic-finances-hydropower-plant-ecuador#.WYMX14iGOUk Ecuaenergia holds 60 per cent, and NormanTrust Group 40 per cent