Mirasol, Peravia I and Peravia II solar PV plants

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The project involves the design, build and operate of three new solar PV projects, part of the AES Dominicana Renewable Energy SA portfolio in Dominican Republic. The three projects are Mirasol, Peravia I and Peravia II Solar PV plants. The planned generating capacity of the three plants in total is 240 MW. This initiative will generate around 824 GWH per year and will reduce the carbon footprint (greenhouse gas emissions) estimated at 441,000 tons CO2 per year. The total amount of the investment is $395m, of which $37m were provided by a loan from the IDB Invest, another $331m loan was secured from 21 financial institutions with joint lead arrangers and bookrunners Scotiabank, JP Morgan Chase Bank, and Banco Latinoamericano de Comercio Exterior SA (Bladex). And lastly, a $27 million associated debt service reserve letter of credit facility was also approved. The financing will also be used for refinancing the short-term debt of three additional renewable energy projects totaling 150MWac of installed capacity (the Agua Clara wind project, the Bayasol solar project and the Santanasol solar project). The financial close date is November 22nd, 2023. https://idbinvest.org/en/news-media/idb-invest-mobilizes-largest-renewable-energy-financing-caribbean-aes https://www.abfjournal.com/dailynews/bladex-leads-syndicate-providing-400mm-in-financing-for-aes-dominicana-renewable-energy/ https://www.elcaribe.com.do/panorama/dinero/bid-otorga-el-mayor-financiamiento-para-energias-renovables-del-caribe-para-aes-dominicana/ https://www.pv-tech.org/aes-raises-us368-million-for-dominican-republic-renewable-projects/ https://renewablesnow.com/news/idb-invest-gathers-usd-368m-for-aes-dominicanas-renewables-drive-840978/