Loan Granted to Finance Corti Wind Farm Project (‘Corti Project’)
Buenos Aires, October 20, 2017. Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; BCBA: PAMP) announces that, aiming to diversify and optimize financing sources, our power generation affiliate Greenwind S.A. executed as a borrower a credit facility for US$104 million with the Inter-American Investment Corporation (‘IIC’), which is the multilateral finance institution of the Inter-American Development Bank (‘IDB’). The Santander Bank and the Industrial and Commercial Bank of China Limited Dubai Branch (‘ICBC’) acted as participants.
This credit facility sets an important milestone to Pampa since it is the first loan by a multilateral institution granted to an awarded project within RenovAR tenders. Moreover, the loan offers a tenor of 9 years door-to-door, a term unprecedented in Argentina, and it is secured by Pampa with a personal guarantee.
The net proceeds from this facility will be allocated to build, operate and maintain Corti Project located in Bahía Blanca, province of Buenos Aires, consisting in the installation of Dane Vestas 100 MW capacity wind mills, which commissioning is scheduled on the second quarter of 2018.
The Corti Project contributes to increase and diversify Argentina’s energy matrix, as well as the supply of clean energy avoiding approximately 213 thousand tons of CO2 emissions per year during project life.
For further information, contact:
Gustavo Mariani – Vice-President
Ricardo Torres – Vice-President
Mariano Batistella -Planning, Strategy and Affiliates Executive Director
Lida Wang – Investor Relations Officer
Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000