Astris Finance is pleased to announce that our client, Neoen, has reached financial close on two Solar PV projects in Mexico and Argentina. We acted as financial advisor to Neoen beginning during each respective bidding process through financial close.

Astris served as the financial advisor on the Aguascalientes Project, a landmark project in Mexico. This was the largest project awarded a PPA in Mexico Third RE auction at 374 MWp, with the world’s cheapest solar PV PPA price at US$18.93/MWh. Astris secured financing for US$186m with competitive terms including a senior debt tenor of 19.5 years, door-to-door

In Argentina, Astris advised Neoen on the Altiplano Project, a combination of two projects, with power purchase agreements awarded in the RenovAr competitive tenders The financing consisted of two tranches, one with the participation of Proparco, DEG and ICCF, and the second with Societe General and KfW, including a coverage from BPIAE.

Neoen is France’s leading independent producer (IPP) of renewable energy. Neoen is active in France, Australia, El Salvador, Zambia, Jamaica, Portugal, Mexico, Mozambique, Finland, and Argentina and has assets in more than 15 countries.

Astris acted as sole financial advisor to Neoen.