Mytilineos reaches financial close on Chile portfolio

Mytilineos Group. Mytilineos is being transformed, aiming at its further expansion and its London listing. Its new structure foresees two branches, of energy and metallurgy. The infrastructure activity is coming under the control of two new subsidiaries: METKA will specialize in construction, and M Concessions will be the concession investment arm.

Mytilineos Energy & Metals on Wednesday announced it has reached financial close with lenders BNP Paribas, Intesa San Paolo, Sumitomo Mitsubishi Banking Corporation, Rabobank and Santander Chile, on a 588 MWp non-recourse solar portfolio.

This portfolio was progressively acquired over 2020 and 2021 as part of Mytilineos' strategic investment in the Chilean market, one of the most promising solar power markets in the world, with abundant resources and assertive decarbonization targets.

The financing is structured with a construction and term facility of $315 million, VAT facility of $30 million and $32 million of LC facilities. Once constructed, solar parks Willka, Dona Antonia, Tocopilla and Tamarico in Chile will produce approximately 1.6 terawatt-hour (TWh) of green electricity annually, representing a reduction of over 600,000 tons of carbon dioxide emissions per...

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