Yinson Secures $59m Financing for Landmark Peruvian Solar Project
Yinson Renewables, the green energy arm of Yinson Holdings Bhd, has secured a senior secured green financing facility worth $59 million (ÂŁ46.7 million) to advance its Matarani solar project in Peru. The funding, arranged by IDB Invest and Natixis Corporate and Investment Banking (Natixis CIB), underscores the growing commitment to renewable energy solutions in Latin America.
In a statement, Yinson Renewables’ Chief Financial Officer, Vegard Urnes, described the milestone as pivotal for the company’s expansion in the region. “This achievement highlights Yinson Renewables’ dedication to delivering innovative renewable energy projects,” Urnes said. “It also reflects the critical role of strategic partnerships with institutions like IDB Invest and Natixis CIB in driving sustainable development and combating climate change. We remain committed to fostering greener energy solutions not only in Peru but across global markets.”
Natixis CIB served as the sole structuring bank, green loan coordinator, and joint lead arranger alongside IDB Invest for the financing.
The Matarani solar facility, located near Arequipa, Peru, is a 97MWp project supported by a long-term power purchase agreement with Orygen, a leading Peruvian renewable energy provider. Significantly, it is the first unsubsidised operational solar plant in the country to secure green project financing, marking a watershed moment for Peru’s energy landscape.
The project represents a significant step towards sustainable energy transition in Latin America, further reinforcing Yinson Renewables’ presence as a key player in the global renewable energy sector.