GTS MAJES S.A.C.
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
GTS MAJES S.A. is a 20MW photovoltaic solar plant in Peru and the sister of a similar plant under the name GTS Reparticion S.A. Both plants are developed and operated by Grupo T-Solar. Construction was successfully completed in June 2012 and both plants are performing better than forecasted.
What is our funding objective?
FMO is providing a long-term subordinated loan, which is scarce in Peru, where the renewable energy market is young. In doing so, FMO is contributing to the diversification of Peru's energy mix and paving the way for future financiers in this sector.
Why do we fund this investment?
The project has high development impact, as it will provide renewable energy capacity to a country that is partly dependent on fossil fuels and has a rising energy demand. In addition, T-Solar engages in solar panel recycling initiatives to minimize waste, which is very much in line with FMO's values and development objectives.
- Region
- Latin America & The Caribbean
- Country
- Peru
- Sector
- Energy
- Effective date
- 12/2/2011
- End date
- 9/8/2022
- Total FMO financing
- USD 7.15 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B