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Solaria reaches an agreement with IDB Invest and Metlife to refinance its debt from its plants in Uruguay

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Solaria has communicated to the National Securities Market Commission (CNMV) that, on November 16, it has closed an agreement with the American insurer Metlife and the Inter-American Investment Corporation (IDB Invest) for the refinancing of the debt of its two plants Uruguayan photovoltaic plants Yarnel and Natelu (23MW).

The operation has been carried out for an amount of approximately 29 million dollars and for a duration of twenty years, subject to compliance with the conditions precedent for disbursement.

The project debt has received a green rating as well as a BBB rating from Standard & Poor’s. Thanks to this operation, the company will reduce the cost of financing and multiply by two the dividends received by these two assets.

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