Unternehmensberatung
Valfortec
Case Study
Valfortec
Mirabaud acted as Structurer and Exclusive Advisor to Valfortec in the successful $22.4mfinancing for the construction of 10 solar PV plants (33.3 MW) in Chile.
About Valfortec
- Valfortec is an Independent Power Producer (IPP) that belongs to a vertically integrated group, which designs, develops, builds, operates, maintains and, occasionally, sells photovoltaic assets.
- In 2012, Valfortec began a process of international expansion and currently has photovoltaic plants in operation in Spain, United Kingdom, Japan and Chile.
- The financing perimeter comprises 10 photovoltaic plants with a total installed capacity of 33.3 MWp. The plant will reduce CO2 emissions by 23,555 tons per year and provide access to clean energy for more than 11,800 people.
- Within this portfolio of 10 photovoltaic plants, there are currently two in operation, two under construction and six in the latest phases of development, which are expected to begin construction in the coming months.
Transaction overview
- The project objective was to finance the 10 photovoltaic plants with new debt resources to allow the Company to build this portfolio without having to invest additional equity.
- As a result of the competitive process led and managed by Mirabaud, Valfortec selected a company dedicated to infrastructure financing in Central and South America as the lead investor.
We are grateful to Valfortec for having counted on us again, and very pleased to have helped to secure the advantageous financing terms that have been obtained. At Mirabaud, we are committed to supporting our clients over the long term, and Valfortec is a clear example of this commitment, as we have advised the Company on several transactions, including the issuance of a project bond and the structuring and issuance of its green bond
Mirabaud contribution and added value
- Mirabaud acted as the Company's exclusive advisor and structurer in the design, management and securing of the $22.4 million non-recourse project financing, securing very attractive financing terms due to the high level of debt raised. The transaction was executed within a period of four months.
- Mirabaud, with extensive experience in financing operations, carried out a competitive process in which both international banks and funds specialised in financing renewable assets in Latin America expressed interest in financing the portfolio.
- The main tasks carried out by Mirabaud included: (i) structuring and negotiation of the T&C of the financing, (ii) elaboration of the Business Plan, (iii) preparation of the project information and coordination of the Due Diligence, (iv) review of the legal documentation for the closing of the transaction.
- This transaction reinforces Mirabaud's position as a leading advisor in the financing of renewable energy project portfolios at international level among institutional investors.
Key data
| Issuer | Valfortec Chile SpA |
| Sector | PV Solar Energy |
| Typology | Project Finance |
| Size | $22,400,000 |
| Maturity | 16 years |
| Mirabaud's Role | Structurer and Exclusive Advisor |
Case study