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The company announced that a portion of this amount will be used to finance part of the construction of its 309 MW Sunny solar project, located in Arequipa. Peruvian electricity generator Kallpa Generación has announced the placement of bonds on the international market for 500 million dollars, which, as described in a statement, will allow it to finance part of the construction of its 309 MW Sunny solar project, located in Arequipa, and refinance its Kallpa 2026 bond for 350 million dollars. The report states that the transaction was completed after four days with more than 28 meetings with 89 investors. It adds that “demand for the shares was six times greater than the offer, showing a significant oversubscription that reached more than 3 billion dollars.” Regarding the characteristics of the issue, the company explained that it was an international placement under 144A RegS format with a coupon of 5.875% and a term of 7 years, bullet, and that the issue was managed internationally by Deutsche Bank, JP Morgan and Santander. In October last year, it was announced that Inkia Energy, through its wholly-owned subsidiary Kallpa, received environmental approval for the expansion of the photovoltaic plant it is building in the La Joya district, Arequipa region, to take the solar project from 228 MWp to 338 MWp. This plant was approved in its environmental studies in June 2022. On that occasion, the Peruvian Ministry of Energy and Mines (MINEM) announced the same for a total of 9 photovoltaic plants and 4 wind power plants, in addition to other electrical projects (transmission lines, substations and rural electrical systems). In March 2023, the MINEM granted Kallpa the definitive concession for the project . Next to Sunny, there are two adjacent solar projects that are expected to contribute approximately 1 GWp of renewable capacity to the National Interconnected Grid starting in the fourth quarter of 2025. |
