YPF Energía Eléctrica, Argentina’s renewable electricity company, recently issued its first green bond for USD 63.9 million. The objective is to finance the development of the first stage of the 100 MW Zonza Solar Park located in the province of San Juan.

It is a dollar-linked green bond, with a 5% rate and a 10-year final maturity. The issue was rated by Fitch Ratings affiliate FIX, which concluded that the Class X Notes issued by the company are aligned with the four main components of the International Capital Markets Association (ICMA) Green Bond Principles (GBP).

The Zonda Solar Park was initially designed for an installed capacity of 100 MW for solar photovoltaic power generation, with the possibility of expanding to 300 MW.