Arroyo Energy Investors portfolio company ARCO 3 has signed a $69.1 million debt financing for an up-to-70 MW portfolio of solar projects in Chile.

The portfolio, known as ARCO Solar PMGD, comprises projects of up to 9 MW that qualify under the country's distributed generation (PMGD) program, which provides stabilized price for small-scale power projects.

Natixis was sole lead arranger on the deal, its debut transaction in Chilean PMGD portfolio term lending.

The loan was structured to allow ARCO to add further qualifying solar projects to the portfolio.

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