Resonance Advisory successfully advised Eight Rivers Energy Company and its sponsors Neoen, MPC Capital AG and Rekamniar Frontier Ventures for the financing of the 51 MWp Paradise Park PV farm in Jamaica.
Proparco and FMO are senior debt providers for the Project. Total investment amounts to USD 64 million.
The Project is expected to be completed in the first half of 2019 and will deliver electricity to JPS, Jamaica’s grid operator and power distributor, at the cheapest price ever made available in Jamaica. It will contribute to reducing Jamaica’s dependency on fuel.
We have assisted EREC and its sponsors in the selection of senior lenders, optimization of the financing structure, and negotiation of financing documents and Project documents (EPC and O&M contracts), up to financial close.
This transaction demonstrates Resonance Advisory’s expertise in renewable energy project financing, and in structuring and raising debt from Development Finance Institutions for major infrastructure projects in emerging countries.