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Calyon mandated lead arranger in the financing of the UTE Pecem project in Brazil
Calyon successfully closed the USD 1,668 million financing of the construction of UTE Pecem alongside IDB (Inter-American Development Bank), Millennium BCP, Caixa Geral de Depositos and BNDES. Calyon acted as mandated lead arranger with a final participation of USD 60 million in the USD 180 million IDB B loan.
The project consists of a 720-MW two-unit, pulverised coal fired plant developed in Brazil by EdB (50%) and MPX (50%) - two of the most active power project developers in Brazil.
The project is the first private coal-fired power plant in Brazil under the growth acceleration program (Programa de Acceleração do Cresicimento) and under the New Energy Auction system with international participation.
The deal is a milestone for Calyon in Brazil as its first greenfield power financing under a limited recourse structure in the strong and fast growing energy market in the country.
