Astris congratulates its client Total EREN for the successful closing of the financing of its first wind project in Argentina. Vientos los Hercules, a 97.2 MW wind park in the province of Santa Cruz, was awarded in October 2016 a 20-year PPA under round 1 of the Renovar program which was signed in January 2017. The financing closed less than 12 months after the PPA was executed and immediately received its first disbursement.

The debt package consists of 16-year ECA covered tranche, guaranteed by Euler Hermes and financed by KfW- Ipex, complemented by a 15-year uncovered tranche financed by DEG and FMO. This is the first non-recourse ECA financing to close in Argentina in the last 15 years.

Astris Finance acted as sole financial advisor to the sponsor beginning during the bid stage in which the project was awarded its PPA. Astris continued its advisory role from the selection of the bank group, through the structuring of the project financing and all the way up to closing and first disbursement. Astris notes that this landmark achievement in Argentina demonstrates Astris' premier position in project finance financial advisory in the renewable sector in Latin America in particular.