GIP Helios Luxco 2 S.À R.L.

GIP Atlas Renewable Energy Acquisition - Green HoldCo Financing

Industry
Renewables/PV solar
Area of finance
Project & Infrastructure Finance
Region
Latin America
Countries
Brazil
Chile
Mexico
Uruguay

Deal Overview

The Atlas Renewables Portfolio (“Atlas”) is the 3rd largest renewable portfolio in Latin America and 2nd largest solar portfolio in Latam. Atlas was created by Actis in 2017 and today has a capacity of 2,298MWp split through 14 highly contracted solar assets located in Chile, Brazil,...

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The Atlas Renewables Portfolio (“Atlas”) is the 3rd largest renewable portfolio in Latin America and 2nd largest solar portfolio in Latam. Atlas was created by Actis in 2017 and today has a capacity of 2,298MWp split through 14 highly contracted solar assets located in Chile, Brazil, Mexico and Uruguay. Out of 14, the financing focuses on the 9 Assets representing 1,637MWp, backed by long term USD-denominated PPAs (~ 15 years remaining) with creditworthy offtakers (BBB- weighted average). As of closing, 8 Assets were in operation and 1 in its final stages of construction.

The innovative USD 525mm non-recourse 5-year holdco green financing includes (a) a USD 375mm Term-Loan to finance part of the acquisition and (b) a USD 150mm Revolving Capex Facility that will support GIP and Atlas in their pipeline growth strategy in the next 3 years and the construction financing of new eligible assets in the renewable space in Latam.

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Deal Volume
$525m
Financial Close
06 October 2022
Sources
Proximo article, Submitted by participant(s)

All Dealmakers

Roukeya El Bouazzi

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Nicolas Fages

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Tranches


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Projects

Atlas Solar Portfolio in Latin America

Greenfield
PV solar
Latin America
Chile
$525m