Fitch rates Parque Eolico notes BBB-

Fitch Ratings said it assigned a BBB- rating to the 5.59% fixed-rate $250 million senior secured notes issued by Parque Eolico Marcona SAC and Parque Eolico Tres Hermanas SAC as co-issuers.

The issuers are related to two Peruvian wind farms.

The outlook is stable.

The ratings reflect the project's robust wind resource forecast and its satisfactory consolidated generation performance, at close to P50 levels, Fitch said.

The transaction benefits from a long-term fixed-price inflation-adjusted power purchase agreement with Peru's energy system operator, the agency said, and it is not exposed to curtailment risk.

The ratings also reflect moderate operational risk from an agreement with Energia y Recursos Ambientales del Peru SA, which may vary over the life of the debt, Fitch said.

The ratings also consider the project's use of a proven technology with low complexity, the agency said.

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