Spanish Solar Company FRV Obtains U.S. $81.9 Million Loan for it’s Plant In Uruguay

Solar Company FRV ( Solar Thermal Magazine)

Spanish developer Fotowatio Renewable Ventures (FRV) has secured a US$81.9 million loan from the Inter-American Development Bank (IADB) for its plant in Uruguay. Named the La Jacinta project, this 65 Mwatt installation will be the first solar farm in the country to obtain a power purchase agreement with the state utility. Once completed La Jacinta will be Uruguay’s largest solar PV project.

The new loan refinances out to 2034 a previous US$70 million construction loan from DNB Group ( Norway) and Italy’s Intesa SanPaulo.

Rafael Benjumea, CEO of FRV had this to say:

The financing support of the IADB will allow us to focus on the completion of the largest solar PV project in Uruguay as well as develop, over the long term, additional quality clean energy projects in the region.

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