AES Solar Closes Financing For 18 MW Photovoltaic Project Portfolio


AES Solar, a joint venture between AES Corp. and Riverstone Holdings LLC, has closed on long-term nonrecourse financing totaling 68 million euros to fund the construction of an 18 MW portfolio of solar photovoltaic projects in Italy.

Dexia Crediop, Societe Generale, DnB NOR and ING participated in the financing, which will fund up to 81% of the estimated project costs. The companies expect all four PV plants connected to the financing to reach commercial operation by the end of the third quarter.

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