The funds will finance part of the company's wind and solar complexes in Ceará, Piauí, and Mato Grosso do Sul, in addition to the Dom Inocêncio solar project in Piauí. All these plants share a strategic point: they are part of long-term power purchase agreements (PPAs) signed with companies such as Ascenty, Omnia, and ByteDance, owner of TikTok.
The operation was structured into two simultaneous issuances carried out by the generator's wholly-owned subsidiaries: one for US$825 million, with a 24-year term, and another for US$252 million, with a 17-year term. The first is fully amortizing; the second, partially.
One of the differentiating factors that attracted 23 institutional investors from various segments, such as insurance companies, asset managers, and pension funds, was the fact that the debt was denominated in dollars. As the energy sales contracts are also in American currency, the structure eliminates the exchange rate risk of the operation.
"We had a very large appetite, which reflects the robustness of the project, of the plant's energy buyers, which are long-term contracts, therefore, with good credit," said executive director Lucas Araripe, highlighting that demand exceeded more than three times the volume initially offered.
The operation involved BNP Paribas, Goldman Sachs, and Mitsubishi UFJ Financial Group as intermediaries, with legal advice from Clifford Chance and Mattos Filho. TotalEnergies has been a shareholder of Casa dos Ventos since 2022.
We saw very strong appetite, which reflects the robustness of the project, and of the plant's energy buyers, which are long-term contracts, therefore, with good credit.
said executive director Lucas Araripe, highlighting that demand exceeded the initially offered volume by more than three times.
The operation involved BNP Paribas, Goldman Sachs, and Mitsubishi UFJ Financial Group as intermediaries, with legal advice from Clifford Chance and Mattos Filho. TotalEnergies has been a shareholder of Casa dos Ventos since 2022.
