Trevali sets up renewables unit, agrees Tingo funds

摘要

Trevali renewable energy, Inc, has been established by Canada-based mining firm Trevali Resources Corp, and its first action has been to agree debt funding for the acquisition and upgrade of a mini-hydro plant in Peru.rnThe new company has agreed to a debt finance arrangement with two local Peruvian banks to help buy and upgrade the Tingo run-of-river hydro plant from 1.2MW to 8.8MW. Trevali wants to link the plant to he national grid.rnThe Peruvian banks are Banco Internacional del Peru and Estudio Echecopar. They are to jointly arrangernlong-term credit facilities to cover all the US$20M debt finance needs of the project.rnThe plant and water rights are currently held by Compania de Minerales Santander, which is majority owned by Trevali.