AES Solar Energy Gets 70 Million Euros For Spanish Photovoltaic Projects
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[January 07, 2009]

AES Solar Energy Gets 70 Million Euros For Spanish Photovoltaic Projects

(financialwire.net via COMTEX) --
January 8, 2009 (FinancialWire) -- AES Solar Energy Ltd, a joint venture between The AES Corp. (NYSE: AES) (Current Market Cap: US$5.98 Bil.) and Riverstone Holdings LLC, said that one of its subsidiaries closed a EUR70 million non-recourse debt facility for five of its photovoltaic projects in Spain.



According to AES, the loan was extended by UniCredit Mediocredito Centrale of Italy and Rabobank of the Netherlands. The financing is at an initial margin of 255 bps to EURIBOR per annum and it is amortized based on an underlying tenor of 18 years.

Formed in March, 2008, AES Solar develops, owns and operates utility scale solar installations. The PV solar installations are part of AES Solar's eight operating power plants in Spain.



First Solar's thin film panels are used in three of the five projects. AES said that the financing represents the largest project financing completed in Spain for solar installations utilizing First Solar panels.

FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .

Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .

http://www.financialwire.net

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