We are happy to announce the closing of our first project in Uruguay, extending Astris's lead in the renewable energy sector throughout Latin America
We are pleased to announce that Sacyr Concesiones, advised by Astris, was awarded the Piramides – Tulancingo – Pachuca highway conservation project, which covers 183 km between the states of Mexico and Hidalgo.
The SCT received a total of ten bids for the USD 224 Mn PPP regarding the modernization and maintenance of the highway over the next ten years. The project is among four conservation tenders launched by the Mexican government in the first half of 2017.
Astris will now work with Sacyr in the debt financing of the project, which is expected to close before the end of the year.
Astris Finance Congratulates its Client Celeo Redes Operacion Chile on a First of its Kind Dual-Currency Bond Issuance to Refinance its Chilean Transmission Line Portfolio in the Amount of the USD Equivalent of approximately USD 600 Million
Astris Finance is pleased to announce the successful refinancing of a portfolio of Solar PV assets owned by DIF, Caisse des Dépôts and Solairedirect in France. This is the sixth portfolio refinancing transaction closed by Astris in the past eighteen months in the European renewable sector.
Astris-led KCT financing awarded North American Port Deal of the Year 2016 by IJ Global's Jury!
Astris Finance acted as exclusive Financial Advisor to EREN Renewable Energy S.A. (“EREN”) in connection with its bid into the renewable program sponsored by the Government of Argentina, called “RenovAr.” The first round of RenovAr has served as the first stage of the re-opening of the Argentine market for international energy and infrastructure projects. EREN was awarded a power purchase agreement (“PPA”) in October 2016 for a 97.2 MW wind project in the province of Santa Cruz. The PPA provides the project with an offtake for 20 years starting at the end of construction. EREN’s project company executed its PPA in January 2017. Astris is now working on the financing of the project for which closing is expected during the course of 2017.
El Salvador distribution company Delsur awarded 20-year power purchase agreements (PPAs) to a combined 169.9MW of wind and solar projects in the country's second utility scale power auction on January 11 2017 - we are very proud to announce that our client Neoen, advised by Astris won the vast majority of the PV capacity auctioned by Delsur, 100 MW. Astris will now work with Neoen to raise the financing for these projects slated to close in H2 2017 / Q1 2018.
This is our second project in El Salvador with Neoen, following the successful closing of Providencia Solar, the country's first non recourse project financing in the power space.
Astris is also advising a consortium of US and local developers in connection with a c. 400 MW LNG to power project in El Salvador, slated to close in H2 2017.
Astris is pleased to announce the successful closing and funding of a 102 MWp solar PV facility in El Salvador. Astris advised project sponsor-developer Neoen on all matters pertaining to project development and financing all the way to this successful first disbursement on the first non recourse financing in the power sector in the country. The financing package has been raised from a club of agencies including the Inter-American Investment Corporation, the Canadian Climate Fund, and Proparco. To make this investment possible, Astris played a pivotal role in negotiating key amendments to the PPA to achieve a threshold level of bankability.
Astris is advising Neoen on renewable projects in Portugal, in Mexico and in El Salvador, in connection with the upcoming auction (UPDATE: Neoen, advised by Astris, was successfully awarded 119.9 MW of PV in this subsequent auction).
US$ 265m long term debt package underwritten by a club of agencies for the financing of CMA CGM transshipment hub in the Caribbean.
Vinci Concessions and Conconcreto, advised by Astris, logged the winning bid for the construction, operation and maintenance of the Bogota-Girardot toll road project in Colombia, initially developed as a private initiative. Astris will now continue working with the consortium on the financing of the project, slated to close in H2 2017. Astris has been advising the consortium in Colombia since 2013, where Astris has been almost continuously working since 2010. Execution of the mandate is coordinated between our offices in Bogota, Paris and Washington DC.
Puerto Antioquia is a 650,000 TEU port development in the Gulf of Uraba, Colombia on which Astris has been advising PiO and Terminal Link, the joint venture between CMA CGM of France and China Merchants
Astris has been retained by a leading French Renewable Energy Independent Producer to advise on the acquisition and/or financing of several greenfield and brownfield solar-generated power plants across South-East Asia, including Cambodia, Thailand and Vietnam.
Astris has been retained by a leading transportation developer and operator to assist on the preliminary due diligence and on the structuring of a bid offer in connection with an operating toll road asset.
Astris Finance is pleased to announce the successful refinancing of a portfolio of 99 building-integrated and ground-mounted solar power plants developed and owned by Langa in France. This is the fifth portfolio refinancing transaction closed by Astris in the past seven months in the renewable sector.
Astris Finance is pleased to announce the successful refinancing of a portfolio of operating solar plants developped and owned by Photosol in France. This is the fourth portfolio refinancing transaction closed by Astris in the past six months in the renewable sector
Astris consolidates its leadership in the renewable energy market by closing two portfolio refinancing of solar assets - a highly sophisticated and structured way to releverage portfolios of assets in operation taking advantage of attractive conditions in the debt markets
Astris Finance is very pleased to announce that Michael C. Sagcal has joined its team as Country Representative based in Manila, Philippines.
Prior to joining Astris Finance, Michael was Spokesperson and Communications Director at the Philippines’ Department of Transportation from 2012 to 2015. While concurrently serving as Senior Project Development Officer in 2013, he worked on special issues in the structuring and tender of the agency’s first set of PPPs: the USD 1.3 Bn LRT-1 Extension, the USD 340 Mn Mactan-Cebu International Airport, and the USD 34 Mn LRT-MRT Automatic Fare Collection System.
He spent two years at a law firm from 2010 to 2012, where his infrastructure and energy practice included acting as transaction advisor to the PPP Center and advising the National Renewable Energy Board in formulating the country’s landmark Feed-In Tariff Rules.
Michael earned his Juris Doctor degree from the University of the Philippines in 2009 and his Diploma in Corporate Finance from the Ateneo de Manila University in 2014. He also attended the PPP Foundation Masterclass Program at Her Majesty’s Treasury – Infrastructure UK as a Mansion House Scholar in 2012.
Award season! In addition Lima L2 Metro deal was voted "Multi Source Financing of the Year 2015"
Astris Finance advised Eco Delta, a French wind developer, in connection with the straight sale of a 12 MW wind permit to the German closed end fund Leonidas. Astris Finance’s scope encompassed the market consultation, the investor selection, the detailed negotiation of the SPA terms and conditions and the closing process. In addition, Astris Finance was deeply involved in the finalization of the permitting process and was in charge of coordinating the vendor due diligence process.
Astris is currently mandated on similar wind transactions in Europe and Africa.
Astris Finance is very pleased to announce that Santiago Pardo has joined its team as Managing Director based in Bogotá, Colombia.
Santiago will head the Colombia office of Astris Finance. In Colombia, the firm has been working on the government’s road concession program known as 4G for the past three years, and is also involved in conventional and renewable energy, oil and gas, and in the port sector. Santiago will also strengthen Astris’s presence in the Andean region, and particularly in Peru where Astris has been one of the leading infrastructure and energy advisors in the past years.
Over the past 20 years, Santiago Pardo has acquired a unique blend of infrastructure finance experience, encompassing both the corporate perspective and the banking perspective. He has developed very strong expertise in project finance, debt capital markets, M&A, project development, and private equity. His industry track record spans oil & gas, infrastructure, power, and mining.
Santiago began his career at Citibank Colombia in 1991, moving to New York in 1997 where he worked for 11 years with Citi’s Infrastructure and Energy Finance Group, including 6 years as head of the Latin America team. During this time, he was directly responsible for closing over 20 transactions in 12 different countries in the Americas, raising over USD 8 billion in funding from multiple sources.
Santiago moved back to Colombia in 2008, where he transitioned to the corporate side, serving as Project Finance Director for Reficar, an Ecopetrol-developed refinery project, then as Managing Director for Infrastructure and Energy at Abacus Capital, a local asset manager; from 2011 to 2014, he was CFO of TGI, the largest natural gas pipeline company in Colombia; and most recently (2014-2016), he served as CFO of La Luna Resources, an E&P company developing conventional and unconventional resources in Colombia. For these last two roles, he was selected as CFO by the major private equity investors backing these companies. At TGI, he personally led the refinancing of TGI’s USD 1,125 million debt in the international capital markets, and assisted CVCI in their successful exit of their investment in TGI for USD 880 million.
Santiago holds an MBA (with distinction) from the Johnson School at Cornell University, as well as a B.S. in economics from Universidad de los Andes in Bogotá. He is fluent in English and Spanish, and conversational in Portuguese.