GreenYellow bags debt for 85-MWp solar bundle in Colombia

French renewable energy company GreenYellow has clinched a COP-172-billion (USD 44.5m/EUR 41.3m) deal to enable the refinancing of 85 MWp of solar projects in Colombia.

The transaction was closed recently with Banco de Bogota SA and will benefit a portfolio of five small utility-scale projects in the departments of Magdalena, Meta and Cordoba and two self-consumption schemes in Sucre and Boyaca. The non-recourse loan will be used to refinance existing debt related to those assets.

GreenYellow said it has spent COP 310 billion for the development of the specific portfolio. In all, the photovoltaic (PV) plants consists of more than 130,000 solar panels that generate electricity for contractors and off-takers operating across different industries.

GreenYellow offers energy efficiency and solar power solutions globally. In Colombia, the company says it has more than 600 projects and over 118 MWp of installed solar PV capacity. In February, it energised a 382-kWp PV array for the Paseo Villa del Roo Shopping Centre.

(COP 1,000 = USD 0.259/EUR 0.240)

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