Atlas Renewable Energy Wins Structured Bond Deal of the Year in the Bonds & Loans Latin America Awards
Miami, Florida, December 19, 2018—Atlas Renewable Energy has won one of the Bonds & Loans Latin America Awards 2019, in the category of Structured Bond Deal of the Year. Following more than 150 submissions from different companies, the Latin American renewable energy company, with the second largest solar base in the region, was recognized for the long-term financing program executed for its El Naranjal and Del Litoral solar PV projects in Salto, Uruguay, in partnerships with DNB Markets and IDB-Invest.
The awards program, Bonds & Loans Latin America Awards recognizes outstanding deals from across Latin American capital markets in 2017/18. The recognition of industry excellence is determined by Bonds & Loans editors based on an exhaustive selection process involving examination of case studies, in-depth feedback and discussions with market participants. This year, over 150 companies submitted cases across 10 categories.
The innovative financing method of the two Uruguayan solar energy plants combined a US Private Placement with several international investors, placed by DNB Markets, Inc. and the Inter-American Investment Corporation (IDB-Invest). The deal was arranged as an A/B Bond structure including a senior and a subordinated note tranches, with IDB-Invest as the lender of record. This type of partnership was the first of its kind, which explains why Atlas Renewable Energy was awarded the Bonds & Loans Structured Bond Deal of the Year accolade.
Atlas Renewable Energy recognizes that the financing structure utilized to secure El Naranjal and Del Litoral was innovative in the financial industry and thank their partners, both IDB Invest and DNB Markets for their instrumental collaboration on a project that pushed the envelope for the industry. Not only did Atlas Renewable Energy place an investment grade senior tranche, but also a sub-investment grade subordinated tranche with private investors, both at very attractive rates and long tenors.
Atlas Renewable Energy Head of Structured Finance, Michael Shea, says: “This award represents a step forward for Atlas Renewable Energy, as we expand our footprint throughout Latin America. Atlas Renewable Energy remains on the constant lookout for new opportunities to grow and innovate with great industry partners, such as DNB Markets and IDB Invest”.
Atlas Renewable Energy’s solar base totals 1.2 GW of contracted projects across Latin America including Sol Do Futuro, Juazeiro and Sertão Solar (Brazil), Quilapilún (Chile), El Naranjal and Del Litoral (Uruguay), and Guajiro (Mexico).
As solar energy production is on the rise, and the sector is estimated as a $160.8bn global industry, Atlas Renewable Energy will continue partnering with great financial institutions to fund more projects that can bring clean energy to Latin America.
About Atlas Renewable Energy
Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects with long-term energy contracts across Latin America. The current company portfolio is 1.2GW of contracted projects in development, construction, or operational stages, and aims to grow an additional 1.5GW over the next decade.
Launched in early 2017, Atlas Renewable Energy includes an experienced team with the longest track record in the solar energy industry in Latin America. The company is recognized by its high standards in development, construction, and operation of large-scale projects.
Atlas Renewable Energy is part of the Energy Fund IV, co-founded by Actis, a leading private equity investor in the energy sector of emerging markets. Actis has allocated more than $600 million of equity in Atlas Renewable Energy to invest in long-term renewable energy contracted projects.
Atlas Renewable Energy’s growth is focused on the main emerging markets and economies of Latin America, using its proven development, commercialization and structuring know-how to bring clean energy to the region. By actively engaging with the community and stakeholders at the center of its project strategy, the company works every day to provide the world with a cleaner future.
To know more about Atlas Renewable Energy, visit: https://atlasrenewableenergy.com/.
About the Awards:
Bonds & Loans Latin America Deals of the Year recognizes outstanding achievement from across the Latin American credit markets. Over 150 deals were submitted across 10 categories. The recognition of industry excellence was determined by Bonds & Loans editors based on an exhaustive selection process involving examination of case studies, in-depth feedback and discussions with market participants. Presentation of the Awards will take place at the cocktail receptions of our following conferences:
Bonds, Loans & Derivatives Mexico 2019: 7th February, Four Seasons, Mexico City
Bonds, Loans Derivatives Andes 2019: 25th April, JW Marriott, Bogota
Bonds, Loans & Derivatives Brazil 2019: 4th June, The Tivoli, Sao Paulo
You can view the full list of Winners here: http://www.gfcmediagroup.com/bonds-loans-latin-america-deals-of-the-year/2019winners
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