Green Bond Fact Sheet

Atlas Renewable Energy

Date: 13-Jul-2018

Issue date: 02-Jul-2018 Maturity date: 02-Jul-2042 Tenor: 24
Issuer Name

Atlas Renewable
EnergyAmount Issued

USD108.4m

Country of risk

Uruguay

CBI Database

Included

Issuer Type1

Non-FinancialCorporate

Bond TypePrivate Placement

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

GB1 (Moody’s)☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission
vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

The issuer will report annually on the actual energy generated from the two solar projects
and the CO2 emissions avoided. The information will be disclosed in the Actis annual report.

Company information

Atlas Renewable Energy is a renewable power generation company founded in 2017
through the acquisition of SunEdison Latin American assets and team by Actis LLP. Thecompany develops, builds and operates solar and wind projects across Latin America.

Firsts, records andcertificationsFirst deal in the Mexican green bond market in 2018.

Proceeds description

The deal was issued through two special purpose vehicles, Naranjal/Litoral Uruguay Issuer
1 and Naranjal/Litoral Uruguay Issuer 2. Proceeds will be allocated to refinancing two

solar projects, El Naranjal (50MW) and Del Litoral (16MW), in Uruguay with an offtake arrangement with Administración Nacional de Usinas y Trasmisiones
Eléctricas, the state-owned Uruguayan electricity company. The issuer iscommitted to reporting annually on the actual generation of the solar plants andCO2 emissions avoided compared to a baseline emissions factor that adjusts overtime as the country's grid composition changes.
Climate Bonds view

We welcome the first green bond from a Uruguayan issuer! It’s good to see impact
reporting practices adhering to market standards.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign