Yinson Renewables has secured an RM265 million (USD 59 million) senior secured green financing for the Matarani Solar Project in Peru with IDB Invest and Natixis Corporate & Investment Banking ("Natixis CIB"). Natixis CIB acted as Sole Structuring Bank, Green Loan Coordinator, and Joint Lead Arranger alongside IDB Invest.
The project is a milestone in Peru's energy sector, as it is the first non-subsidised operational solar plant to be financed through a green project finance facility, structured in line with the Green Loan Principles (2023).
The 97 MWp Matarani Solar Plant, located near Arequipa, Peru, is backed by a long-term Power Purchase Agreement (PPA) with Orygen, Peru's leading renewable energy supplier and generator.
James Scriven, Chief Executive Officer of IDB Invest commented, "We are pleased to support Yinson Renewables ́ first project in the region. This financing is key to Peru's energy transition to renewable sources."
Yinson Renewables acquired the project from Grenergy Renewables in January 2024. Grenergy provided a full turnkey EPC contract for the construction of the project and is also providing operation and maintenance services for the first two years.
