Ecopetrol has picked equity partners to join a consortium to build the $4.2bn Oleoducto Bicentenario oil pipeline, it says. Ecopetrol will contribute 55% of the equity portion of the project, with the remaining 45% ($139.5m) equity participation coming from the partners. Pacific Rubiales (32.9%) and Petrominerales (9.7%) are taking the largest positions. Hocol, Rancho Hermoso-Canacol, Grupo C&C and Vetra each took stakes of less than 1%. The partners should also contribute $700m to fund construction of the project’s first phase, Ecopetrol says. The project will also require an undetermined debt component, of which Ecopetrol has said it would seek a portion in Colombia’s domestic markets.
Category: Project & Infrastructure Finance
Posted inDaily Brief
Nicaragua Wind Project Signs Loan
The Amayo II wind project has closed on a $45m 15-year non-recourse project financing from FMO and Cabei. The facility consists of a $42m senior loan and a $3m mezzanine loan. Senior loan participants include Cabei, FMO, EKF and BIO. The borrower is Consorcio Eolico Amayo (Fase II), a subsidiary of AEI, Centrans Energy Services and Energia Eolica de Nicaragua. The wind project consists of 11 wind turbines capable of producing 23.1 MW of electricity. Output is fully contracted under long-term, 15-year PPAs with local power distribution companies Dissur and Disnorte.