Argentina’s MSU raises $400 million green bond for storage projects

Argentina-based developer MSU Green Energy will use the proceeds from its first international green bond issuance to fund renewable energy and battery storage projects.
Image: MSU Green Energy

MSU Green Energy has raised $400 million through its first international green bond issuance, securing financing for renewable energy and battery storage projects in Argentina.

The 10-year bond was issued with a 9.75% coupon and was oversubscribed, according to the company. Proceeds will be used to optimize MSU Green Energy’s capital structure and support the development of new renewable generation and energy storage assets.

MSU Green Energy has built a solar portfolio concentrated in northern Argentina, including the 130 MW Pampa del Infierno project in Chaco, the 40 MW Las Lomas plant in La Rioja, and the 40 MW Villa Ángela facility, also in Chaco.

The company has also secured two battery energy storage system (BESS) projects through the AlmaGBA tender, which aims to deploy storage at strategic locations across the Buenos Aires metropolitan area. The awarded projects comprise a 150 MW system in Matheu and a 30 MW installation in Oro Verde.

MSU Green Energy has signed long-term renewable power purchase agreements with major corporate buyers including Telecom Argentina, Volkswagen Group Argentina, and Bayer.

According to its investor materials, the company’s portfolio also includes the El Chocón-Arroyito hydroelectric complex in Argentina’s Comahue region.

BBVA, J.P. Morgan and Santander acted as international joint bookrunners on the transaction.

From pv magazine LatAm

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