Genneia has grown a lot in the last year. It acquired a 245MW power plant in Tucuman, a 51MW wind farm, and was awarded a 19MW biomass project and three solar projects totaling 82MW. Additionally, it has several wind projects under construction that should be inaugurated in the next two years. However, we are a little worried the company has not announced any news regarding the signing of project finance or any other sort of financing for the wind farm expansions.
Genneia’s consolidated net leverage was 3.6x, while the net leverage for the restricted subsidiaries was 3.4x as of 1Q18.
CLICK HERE to access the Genneia 2Q17 Credit Report