PROJECTS / Isagen Generation Portfolio Due Diligence

Isagen Generation Portfolio Due Diligence

Latin America and the Caribbean

October 22, 2020

K&M was engaged by the Overseas Private Investment Corporation (OPIC) and Citibank Colombia to provide an independent financial review of a loan application from ISAGEN for US$250 million. The loan would be issued by Citibank and US$212 million would be insured by OPIC. ISAGEN would use the loan to finance its power generation operations in Colombia. K&M was tasked with reviewing ISAGEN’s financial strength and projections of future financial performance to assess ISAGEN’s ability to fully satisfy its obligations under the proposed loan. K&M reviewed ISAGEN’s audited financial statements, credit profile, and financial model of the company’s operations, which included forecasts for each of ISAGEN’s five power generation assets (totaling 1,832 MW). In addition, K&M assessed the proposed term sheet between Citibank and ISAGEN and recommended changes which would improve the lending arrangement.

Experimental Steam Cycle Efficiency

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