• 6 minutes Corporations Are Buying More Renewables Than Ever
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 23 minutes Starvation, horror in Venezuela
  • 12 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 2 days Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 day Renewable Energy Could "Effectively Be Free" by 2030
  • 1 day Saudi Fund Wants to Take Tesla Private?
  • 4 hours China goes against US natural gas
  • 2 days Mike Shellman's musings on "Cartoon of the Week"
  • 2 days Venezuela set to raise gasoline prices to international levels.
  • 3 days The Discount Airline Model Is Coming for Europe’s Railways
  • 2 days Pakistan: "Heart" Of Terrorism and Global Threat
  • 2 days Are Trump's steel tariffs working? Seems they are!
  • 11 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 3 days Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 1 day Why hydrogen economics does not work
Alt Text

Solar Costs Are Dropping Much Faster Than Expected

The U.S. Department of Energy…

Alt Text

Ambitious Solar Project Takes Root In Tunisia

This small northern-African nation could…

Mark Nicholls

Mark Nicholls

Mark is a writer for Environmental Finance. Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance,…

More Info

Trending Discussions

SunPower Closes First Publicly Rated Bond Issue for a Solar Project

US solar power firm SunPower Corporation has sold €195.2 million ($258.4 million) of bonds linked to a solar farm in Italy, which are understood to be the first such bonds of their kind.

The proceeds will be used to refinance the final two 44MW phases of the company’s Montalto di Castro solar park, which is now complete.

The 18-year fixed rate bonds were issued in two €97.6 million tranches, with the first rated Aa2 by Moody’s, and paying 5.715%, with the second tranche rated Baa3 and paying 4.839%.

“This is the world's first publicly rated bond issue for a solar project, as well as Italy's first rated project bond. It opens up a new global-scale pool of capital to fund solar projects beyond traditional project financing from banks,” said Dennis Arriola, SunPower’s chief financial officer. “Achieving investment grade ratings is a milestone for the solar sector.”

The first tranche was bought by institutional investors, and the second in whole by the European Investment Bank.

The lead managers were BNP Paribas and Société Générale.

San Jose, California-based SunPower, which manufactures solar energy systems, also said that it expected to sell the final two phases of the solar farm by the end of this year. These two phases bring the total size of the project to 72MW.

By. Mark Nicholls

Source: Environmental Finance




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News