Terna signed today the Project Finance of $81 million for the construction of the 500 kV transmission line that will connect the cities of Melo and Tacuarembó in Uruguay.
The financing consists of a Loan of approximately 56 million dollars, with a duration of 17 years and with a rate equal to 6m Libor USD +235bps financed through the Inter-American Development Bank (IDB) and by a Loan of approximately 25 million dollars with a duration of 15 years and with a rate equal to 6m Libor USD +210bps financed through Banco Bilbao Vizcaya Argentaria (BBVA).
The entire loan was classified as a "green loan" by Vigeo Eiris - an agency specialized in assessing the aspects of sustainability in business strategy and management - since the new power line will make it possible to increase the generation and consumption of energy from renewable sources, increasing its contribution to national production. With the implementation of this project, Terna's strategy aimed at combining investments and sustainability as a driving force for growth and value creation continues.
