360 Energy, an Argentine renewable solar energy firm, has launched its second green bond in the local market for an amount of 80 million dollars. The resources will be assigned to the construction of the La Rioja II Photovoltaic Solar Park with 94 MW of installed capacity. The energy generated will be destined to the term market (known as MATER). The construction of the park is expected to begin during the current year 2023.

The bond is made up of two tranches, the first tranche for an amount of 20 million dollars for 24 months at an annual rate of 0% on a bullet scheme, and a second tranche for 60 million dollars at an annual rate of 5% for 108 months. The issued negotiable obligations are aligned with the Green Bond Principles of the International Capital Market Association (ICMA).

In June 2022, 360 Energy had issued its first green bond for an amount of 20 million dollars aimed to the construction of another solar park.