Apr 8, 2019   SOURCE: BusinessWire

EnfraGen Completes $100 Million Financing Round

Glenfarne Group, LLC ("Glenfarne" or the "Company"), a developer, owner-operator and industrial manager of energy and infrastructure assets, today announced its subsidiary, EnfraGen, LLC ("EnfraGen"), secured $100 million commitments in new capital from a consortium of banks led by DNB Bank ASA (“DNB”) and Société Générale, New York Branch (“Société Générale”). The additional capital will fund the repayment of publicly traded bonds linked to EnfraGen subsidiary Fontus Hydro, LLC ("Fontus Hydro") as well as provide for additional capital for further growth.

"We are deeply appreciative of our capital partners who have taken time to recognize the benefits of Glenfarne’s strategy, which applies both operational and financial management expertise to optimize power and power infrastructure assets throughout the entire asset life cycle," said Brendan Duval, Managing Partner of Glenfarne and Chief Executive Officer of EnfraGen. "With their support, we are able to enhance existing assets and pursue value added opportunities in the Americas."

In 2018, Fontus Hydro acquired three operating, run-of-river hydroelectric power plants in the province of Chiriquí, Panama that are supported by contracted revenues. The facilities also sell electricity into the Regional Electricity Market ("MER"), which comprises six countries in Central America.

About Glenfarne Group

Glenfarne is a privately held energy and infrastructure development and management firm based in New York City with offices in Panama City, Panama and Santiago, Chile. Glenfarne's seasoned executives, asset managers and operators develop, acquire, manage and operate energy and infrastructure assets throughout North and South America. For more information please visit www.glenfarnegroup.com.

About EnfraGen, LLC

EnfraGen is a privately held company which focuses on the development, acquisition and operation of power and power infrastructure assets in the Americas. EnfraGen's subsidiaries include Prime Energía SpA, its grid stability subsidiary; and Fontus Hydro, LLC, its renewable power subsidiary. EnfraGen's portfolio of operational and construction assets across its subsidiaries offers a combined capacity of approximately 750 MW as of December 2018. The company, including its affiliates and subsidiaries, is supported by a team of approximately 150 professionals. EnfraGen maintains offices and assets in Chile, Panama and the United States, and is part of the Glenfarne Group, LLC family of companies.