Of the total amount, $62.9m of debt and a parallel loan of $37.5m are being provided by OPIC and IFC respectively. Additionally, Rabobank is providing a local Chilean Peso VAT facility of around $25.6m.
The proposed San Andres project calls for the construction and operation of the 50.7MW solar power plant in the municipality of Copiapo in Atacama Region.
The project is expected to increase the country’s renewable energy output and thereby meet its renewable energy targets; as well as enable implementation of utility-scale zero-emission power generation and curb overall emissions.
The project, which is estimated to cost around $142m, will supply its output into the Chilean Central Interconnected System at prevailing spot market prices.
The project, which is claimed to be largest solar PV merchant plant in Latin America, is expected to interconnect with the grid during the first quarter of 2014.
SunEdison Europe, Middle East, Africa and Latin America president Pancho Perez said the plant represents significant growth for the company and the country’s PV industry, and create significant value for the company, investors and the region.
"The San Andres merchant PV plant highlights SunEdison’s ability to deploy innovative energy solutions that address consumers’ electricity needs, contribute to national economic growth by reducing energy cost, and serve as a reference for the industry worldwide.
"We are very proud to partner once again with OPIC, IFC and Rabobank in Chile to enable this worldwide flagship project," added Perez.
