Monday, January 24

Genneia announced the issuance of two green bonds for a new sustainable project

As reported, Banco Macro acts as organizer, while Macro Securities, Balanz, BACS, Banco Hipotecario and Banco Santander act as underwriters. New Chaco Bursátil acts as sub-locator.

“After successfully completing our investment plan of 1,000 million dollars, Genneia continues to promote renewable energy and productive investment in Argentina with projects that take care of the planet,” he said. Carlos Palazon, CFO of the company.

New Solar Photovoltaic Project

El Sierras de Ullum Solar Photovoltaic Project, located in the south-central province of San Juan, it will have an estimated nominal installed capacity of 80 MW, equivalent to the approximate consumption of 50,000 homes.

The selected property has an area of ​​100 hectares and is located on National Route 54. In the area where the project will be located, Genneia has three other Ullum I, Ullum II and Ullum III Solar Parks in operation for a total of 82 MW.

The project will have more than 150,000 solar panels with bifacial technology. This will allow energy production with both sides of each panel and will lift the reflection from the ground to increase generation by 6%.

More than 400 people will work directly on the project and it will last approximately 14 months, including the conceptual design and execution of the work, the interconnection with the SADI and the commissioning.

“The energy produced by Sierras de Ullum will be used entirely for the corporate market, the main axis of growth for renewable energies in the coming years. Today the private sector assumes a key commitment to reduce its carbon footprint and projects like these will help companies on the path towards a more sustainable profile ”, expressed Bernardo Andrews, CEO of the company.

In addition to the launch of the two new NOs to finance the Sierras de Ullum Project, Genneia received a new credit risk rating from Moody’s Local at A + .ar with a positive outlook for long-term local currency debt.