Chile photovoltaic project development bank loan of us $ 66.4 million

Polaris solar PV net news: the Inter-American Development Bank (IDB) has approved for Chile a solar power station loan US $ 66.4 million.

IDB has agreed to $ 50.4 million from regular funds and $ 16 million from the clean technology fund, is being conducted by global suppliers of photovoltaic energy construction of SunEdison Crucero PV project finance.

The 70MWCrucero project, and covers an area of 212 hectares, this year is expected to be put into operation as early as 2015, fully operational in the first quarter.

SunEdison will be installed on a single axis Tracker 226,152 poly solar panel.

Annual output of the hydropower station is expected to exceed 200GWh, will be located near Antofagasta region thanks to Copia, MariaElena commune.

Electricity will be supplied to Chile’s northern interconnected system (SING)-which is 99% of the electricity generated from fossil fuels. The solar power station will contribute to the grid for Chile’s popular mining sector to provide electricity, which is currently the most prominent user of energy in the region.

SunEdison will through its InversionesyServicios subsidiary (investment and services) SunEdison Chile branch to develop the project, and will also provide operations and maintenance (O&M), EPC and other program services.

The Development Bank hopes that by supporting Chile’s large-scale solar projects, the local banks will follow suit and provide financing for future projects.

Infrastructure of the IDB’s structured and Corporate Finance Department Director Jean-MarcAboussouan said: “IDB leadership in the industry and its capacity to mobilize resources from the clean technology fund, helped to attract local commercial bank financing for the first time Chile’s commercial solar project. ”

Chile’s environmental assessment services to SEIA for Crucero project environmental impact report said 180MW building initially approved in August 2012.

SunEdison last week in Chile starts its 100MWAmanacer plant, and also in Chile to build a 92MW power plant. Another will be in Chile SunEdison50MW in the construction of solar power plant was completed in April financed.

Original title: Chile photovoltaic project development Bank a $ 66 million loan

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