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The state-owned electricity company is issuing Negotiable Bonds for the total amount required to finance the installation. Bids for the bonds reached almost 100 million dollars.
Uruguayan state-owned electricity company UTE has issued Negotiable Obligations (NO) for 27 million dollars with the aim of carrying out the project of design, construction and installation of the 25 MW photovoltaic park in Punta del Tigre, department of San José.
The issue, which was aimed at retail investors with denominations of $1,000 and a price of $100, received a much higher demand, with $98,944,000 and 4,668 bids with amounts starting at $1,000, according to a statement.
The solar plant, whose construction contract was awarded to the Teyma-Prodiel Energy consortium , will have an installed capacity of 25 MW, with panels driven into the ground on iron bases and about two metres high. It is expected to be completed in the second half of next year.
As reported earlier this month, upon launch , the interest payments on the ONs will be semi-annual, accruing compensatory interest at a fixed interest rate of: 5.125% linearly per year from the date of issue until the end of the third year; 5.25% for the fourth year; and 5.375% for the fifth year, that is, until the date of maturity.
Last month, UTE announced the inauguration of its first photovoltaic park, Punta del Tigre, of 30 MWp (25.65 MWn), located in the town of Colonia Wilson, also in the department of San José. |
