December 2020 - Astris Finance is pleased to announce the closing of the Sunlight transaction, consisting of the sale by Grupo T-Solar of a majority stake in two photovoltaic plants in Peru totaling 44 MWp, GTS Majes and GTS Repartición. Astris Finance acted as exclusive financial advisor to Grupo T-Solar.
Founded in 2006, Grupo T-Solar is dedicated to the promotion of renewable energy, particularly photovoltaic solar plants. The group has developed a renewable energy platform with a total net capacity of close to 400 MWp distributed across Europe, Asia and the Americas. Between 2010 and 2015, Astris has advised T-Solar on five financing deals in Peru, Italy, Japan and India.
This sale transaction involved teams across Astris’ offices in Europe and the Americas who worked in coordination with the Grupo T Solar’s team to conduct a competitive sale process featuring the plants’ unique technical elements, solid shareholder structure and strong refinancing potential. The process resulted in the selection of the minority shareholder, Japanese group Sojitz Corporation, to acquire the 51% stake owned by Grupo T-Solar.
Back in 2012, Astris Finance advised Grupo T-Solar in structuring the financing of these two PV plants at greenfield stage through an innovative partial credit guarantee structure, at the time the first utility scale solar project in Peru. In 2014, two years post COD, Astris advised Grupo T-Solar in the divestment of a 49% stake to Sojitz Corporation. The recently announced transaction allows Grupo T-Solar to close the loop and fully monetize the value of these attractive assets. It demonstrates once again Astris’s ability to advise sponsors throughout the life cycle of their assets.