Czech solar company Solek Group announced this week that it plans to issue public bonds worth roughly US$19.9 million — which the company will use to finance part of a 70MW solar portfolio in Chile.
The bond, titled SOLEK HO. 6,20/2022, will be issued by Solek subsidiary Solek Holding SE and will feature a fixed interest rate of 6.2% annually — with maturity of the bond set for 2022. Terms of the issue were approved this week by the Czech National Bank.
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Net proceeds from the bond will be used to finance the PV projects, which will be developed in Northern Chile. The issue prospectus lists a total of 12 PV projects that will boast a total generation capacity of 70MW.
Zdeněk Sobotka, Solek Group owner, said: With optimal natural conditions, a stable economy and constantly, increasing demand for electricity in Chile is one of the best locations where you can invest in the photovoltaic industry.”