OPDEnergy, a renewables assets developer, has secured a $103m in financing from Sumitomo Mitsui Banking Corporation (SMBC) for two power projects in Chile.

The funding from the Japanese banking and financial services provider will be utilised for the construction of 50MW La Estrella wind farm in Libertador General Bernardo O’Higgins, and to the 104.3MW Sol de los Andes photovoltaic (PV) solar power plant in Atacama.

With the financing, OPDEnergy will now be able to complete the development of the La Estrella wind project, for which the company used its own resources to begin construction.

Once operational by the end of the year, the La Estrella wind farm will be equipped with 11 wind turbines supplied by Siemens Gamesa, specifically SG 5.0-145 model turbines.

OPDEnergy will work as EPC contractor for Sol de Los Andes solar project

OPDEnergy will also act as an engineering, procurement and construction (EPC) contractor for the Sol de Los Andes solar power project.

The company will be responsible for  design, supply and construction services of the plant, which will be equipped with bifacial solar modules.

Opdenergy Chile managing director Carlos Ortiz said: “This financing is an important step for Opdenergy in Chile.

“It will allow us to complete two major projects that will diversify the country’s energy mix and will certainly contribute to the economic development of the region.

“We are convinced that together we will overcome the situation created by covid-19 and, with no doubt, renewable energies will be a key element to achieve a sustainable recovery”.

In March last year, OPDEnergy selected Chinese PV module-maker Risen Energy to supply photovoltaic (PV) modules for the 261MW solar pipeline of projects in Spain.