Elawan bags Google PPA for 37-MW solar project in Texas
Sep 19, 2024 13:49 CESTRenewables investor Hudson Sustainable Group has finalised the issuance of USD 96.8 million (EUR 79.5m) worth of Investment-Grade rated fixed rate secured notes due in 2043, representing its inaugural green bond.
Hudson said in a statement that clients of asset manager Allianz Global Investors took part as the sole noteholders in the offering, which closed on December 22. The sustainability sector investment group said it has already used the proceeds to refinance an existing construction loan facility.
The assets underlying the notes are a portfolio of six operating solar photovoltaic (PV) parks in Uruguay totalling 84.3 MW in direct current (DC), each with a long-term power purchase agreement (PPA) with state-owned power utility UTE.
Mitsubishi UFJ Financial Group and SG Americas Securities LLC, part of Societe Generale, served as placement agents and green bond structuring advisers, while Greenberg Traurig LP and Guyer & Regules acted as counsels.
(USD 1.0 = EUR 0.822)
Elawan bags Google PPA for 37-MW solar project in Texas
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