Sojitz Coporation of America recently entered into the equity of the Majes & Reparticion solar plants, which were initially developed by Grupo T-Solar, a major independent power producer in the solar sector.
The Projects consists in two 20 MW PV plants located in Southern Peru which have been completed by Grupo T-Solar in 2012. At the time, the projects were the first large-scale solar photovoltaic energy projects in Latin America using thin-film modules produced by T-Solar.
Sojitz Corporation America, through a Peruvian investment vehicle, subscribed to a capital increase of the project companies taking a 49% minority position in the projects. Grupo T-Solar remains with a 51% stake in the projects and will keep the operational management of the projects.
Astris Finance acted as Financial Advisor to Grupo T-Solar to advise them in the structuring, negotiation, due diligence and documentation phases of the transaction.