MSU Green Energy Expands Green Bond to US$530 Million for Solar and Battery Storage

Development finance institutions FinDev Canada (Canada) and DEG (Germany) announced on August 17 the purchase of US$50 million each in the reopening of Argentine company MSU Green Energy's green bond, lifting the issuance from US$400 million to US$530 million to finance 182 MW of solar and 150 MW of battery storage (BESS).

MSU Green Energy placed its first international green bond in June for US$400 million, with a ten-year tenor and a coupon of 9.75%. The reopening was issued on identical terms: senior secured negotiable obligations at 9.75%, maturing in 2036, priced on August 6 and settled on August 10. According to Infobae, the proceeds will also support the ongoing operation of approximately 1.7 GW of existing renewable capacity, aligned with a national energy transition plan projecting investments of some US$86 billion through 2030. The transaction confirms the appetite of North American and European development banks to finance battery storage in Latin America.

The transaction marks FinDev Canada's first participation in a green bond within its sustainable infrastructure portfolio; the additional notes will be listed on the Argentine stock exchange. MSU operates five solar parks totaling 277 MW and holds two photovoltaic projects contracted for 15 years for an additional 52 MW. In storage, the company secured 180 MW in the 2025 AlmaGBA tender, out of 667 MW awarded in total: 150 MW at the Matheu node (Edenor) at US$11,290 per MW-month, and 30 MW at Oro Verde at US$11,920 per MW-month. In early 2026, it took over operation of the El Chocón-Arroyito hydroelectric complex, with 1,418 MW of capacity and average annual generation of 2,602 GWh, bringing its total renewable capacity in operation to approximately 1.7 GW.

The announcement does not identify the individual projects comprising the 182 MW solar pipeline, nor the location of the 150 MW BESS facility. The next item to watch is the concrete allocation of those proceeds, along with secondary market performance of the notes on the Argentine exchange following listing.

This article was drafted with artificial intelligence assistance from verified sources and reviewed by a human editor before publication.