Yinson Renewables, a green financing facility has been secured for the Matarani solar project in Peru. The US$59 million senior secured financing was provided by IDB Invest. The solar project is a 97 MWp solar plant located near Arequipa, Peru. The project is backed by a long-term power purchase agreement with Orygen, a renewable energy supplier and generator in Peru. This project is an achievement for Yinson Renewables, Malaysia in Latin America, as it is the first non-subsidized operational solar plant to be financed through a green project finance facility in Peru.
Yinson Renewables is a leading player in the renewable energy sector, with a focus on developing sustainable energy solutions based in Malaysia. The company has a portfolio of renewable energy projects, including solar, wind, and hydroelectric power plants. Yinson Renewables is committed to advancing renewable energy solutions and promoting sustainable development.
In addition to the Matarani solar project, Yinson Holdings has several other renewable energy projects in various stages of development. These projects include a 190 MW wind farm in Mexico, a 150 MW solar plant in Chile, and a 250 MW hydroelectric power plant in Colombia. These projects demonstrate Yinson Holdings’ commitment to developing renewable energy solutions and reducing carbon emissions.
The green financing facility secured by Yinson Renewables for the Matarani solar project is a testament to the company’s ability to attract investment and support for its renewable energy projects. The company’s partnership with IDB Invest and Natixis CIB highlights the importance of strategic partnerships in advancing renewable energy solutions.
Yinson Renewables has a set target in Latin America, with a pipeline of close to 1 GW expected to be built in the next three to five years. In Peru, the green financing facility also owns the 130 MWp Majes Project, the first phase of which is expected to be ready for construction by end 2024. Matarani is Yinson Renewables’ fourth large-scale project to reach commercial operations, with the first three being the Rising Bhadla 1 & 2 plants and the Nokh Solar plant in India.
