Japan’s Eurus Energy Group said today it has started construction works on solar projects with a combined capacity of a 80 MW direct current (DC) in Chile.
The capacity in alternating current (AC) totals around 68 MW.
The company is building ten photovoltaic (PV) parks 50 km (31.1 miles) to 400 km from the Chilean capital of Santiago. Commissioning is expected to occur in 2022.
The PV farms will operate under the local small-scale distributed generation programme, known as PMGD in Chile. The PMGD plants are entitled to a stabilised price regime.
Last week, Eurus announced it had signed a green loan agreement to finance the construction and operation of the 80-MW bundle. Sumitomo Mitsui Banking Corporation (SMBC) and Providence Capital Advisors acted as the green loan coordinator and financial advisor, respectively.
Currently, the Japanese company has two operational solar plants in the South American country. Once the new ones are up and running, Eurus' solar output in Chile will increase to about 100 MW of DC power, the group added.