Naturgy closes finance for 316 MW of wind, solar in Chile

Naturgy's San Pedro solar PV plant in Chile

May 25 (Renewables Now) - Spanish utility company Naturgy Energy Group SA (BME:NTGY) closed a USD-280-million (EUR 228.7m) project finance with a group of international banks for 316 MW of wind and solar farms located in Chile's Atacama desert.

The 206-MW Cabo Leones II wind park and the 110-MW San Pedro solar plant were connected to the grid in the fourth quarter of 2020 and began power supply at the beginning of this year, Naturgy said today.

Spanish developer Grupo Ibereolica Renovables is a partner in the wind farm, holding 49% of Cabo Leones II.

Naturgy's international arm Global Power Generation (GPG) secured both projects in Chile's 2016 auction, and was awarded a 20-year power purchase agreement (PPA) for an annual supply of 858 GWh.

In addition to the new plants in Chile, the company has some 1,100 MW of projects under construction in Spain and Australia, scheduled to enter operation between 2021 and 2022. An additional 3,700 MW are currently under development, Naturgy noted.

(USD 1.0 = EUR 0.816)

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