Elecnor places 73 million euros for its wind power in Brazil

Elecnor, through its wind power development and exploitation subsidiary Enerfin, has successfully closed a bond issue to boost its wind farms in Brazil.
Thus, it has issued obligations without recourse to the shareholder in the Brazilian Stock Exchange for 325 million Brazilian reais (73 million euros) for the wind farms of Ventos do Sul (150 MW), located in the State of Rio Grande do Sul from Brazil.
These wind turbine parks started operating in 2006 and the financing contracted for their construction had been fully amortized before this issuance of obligations. The funds from this placement will be used for investment in future projects.
The holding company of the parks, Ventos do Sul Energía, obtained the highest credit rating granted by Fitch Ratings in Brazil (AAA Brazil) and the issuance of obligations registered an oversubscription of 3.1 times. This high demand is explained by the optimal conditions that these parks present due to, among other factors, the proper management of their operation and maintenance.
The issue was placed in two series with different costs. 70% subscribed to the price of the Brazilian Interbank Deposit Certificate (CDI) with a margin of 0.75%, while the remaining 30% referred to the IPCA inflation index with a margin of 3.25%.
Elecnor is one of the leading Spanish business groups in the infrastructure, renewable energy and new technologies sectors. With 60 years of continuous growth and present in 55 countries, it focuses its activity on different sectors ranging from electricity, gas, industrial plants, railways, telecommunications, water, control systems, construction, environment, maintenance of facilities, to the Aerospace engineering. Its strong international vocation has led the company to a continuous process of expansion that has opened the doors of new markets, being the main North America, Central America, South America, Africa and the Middle East. Elecnor, which is listed on the Continuous Market, has a team of highly professional
qualified and a workforce of 13,889 employees. In 2018, the turnover reached 2,273.1 million euros and a consolidated net profit of 74.3 million euros.