Tealov S.R.L., a subsidiary of Invenergy, has completed the construction financing for the Cardal Transmission Project in Salto, Uruguay.
In partnership with IDB Invest, a member of the Inter-American Development Bank Group, Invenergy has secured a US$67 million A/B Bond Loan, featuring a two-tranche finance structure. The first is a US$11.5 million direct loan from IDB Invest, while the second is a US$55.5 million indirect IDB Invest loan, funded through a Project Bond Issuance in the US Private Placement Market. Prudential Private Capital was the sole investor for the bond issuance associated with the transaction.
The Cardal Transmission project will consist of 55 km of new 500 kV high-voltage transmission line, 20 kilometers of new 150 kV transmission line, a new 500 kV substation, and necessary infrastructure. The line will connect to the Punta del Tigre substation and a 150 kV high-voltage line in Salto, Uruguay. Construction work is planned to begin in July 2021 with a targeted commercial operation by early 2023.
Country updates
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September 10, 2021
IDB invests in Cardal Transmission PPP project in Uruguay
IDB Invest has provided a US$67 million financial package to Tealov S.R.L (Tealov), an Uruguayan special purpose company (SPV) sponsored by Invenergy Renewables Global LLC (Invenergy), for the develop...
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August 24, 2021
Uruguay to renegotiate Montevideo Port terminal concession
The Government of Uruguay might negotiate the agreement with Katoen Natie for the terminal concession at Montevideo Port. The concession involves the development of a second container terminal with an...
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March 29, 2021
CAF provides financing for Route 3 from La Radial to San José PPP Project
Development Bank of Latin America and its subsidiary CAF-AM will provide financing for a roadwork on National Route No. 3 from La Radial to San José PPP project. The aim of the project is...
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December 11, 2020
Agreement executed for Cardal Transmission PPP
Invenergy Transmission and Tealov S.A., subsidiaries of Invenergy it has executed an Operating Lease Contract with the National Administration of Power Plants and Electrical Transmissions/Administraci...
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September 18, 2020
First disbursement completed for Ferrocarril Central project
Astris Finance announced the closing and first disbursement of a US$ 75 million second-lien mezzanine facility for the Ferrocarril Central project in Uruguay, sponsored by Sacyr, NGE, Saceem, and Berk...
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