Project detail - GTS MAJES S.A.C.

GTS MAJES S.A.C.

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Who is our client

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.

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 we fund this project

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
Signing date
12/2/2011
Total FMO financing
USD 7.15 MLN
Fund
FMO
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