The agreements are associated with its previously announced solar bonds with BNP Paribas and Societe Generale, both located in Milan, Italy. The bonds are expected to be funded in December of this year.
"This financing agreement puts us one step closer toward accomplishing the industry's first-of-its-kind solar bond," said Dennis Arriola, SunPower CFO. "We are on track to close the debt financing and sell the equity in these parks, all before the end of this year, consistent with our fourth-quarter revenue and earnings guidance."
The Montalto di Castro solar park is located in the Lazio region of Italy near Rome. The 20 MW first phase was connected to the grid last November, while the eight MW second phase was commissioned earlier this autumn. With the financing, the company hopes to install the last phases of the project, which would bring final capacity to 72 MWs.
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
Becky Beetz
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.