Solek secures USD 85m for DG solar projects in Chile
Solek Group PV park in Chile. Source: ABB (www.abb.com).
Czech solar developer Solek Group has obtained a USD-85.25-million (EUR 69m) senior secured facility to support a portfolio of photovoltaic (PV) projects in Chile with a combined capacity of at least 110 MW.
The transaction was fully underwritten by Natixis SA (EPA:KN), which served as sole lead arranger, hedge provider, letter of credit issuing bank and administrative agent.
The portfolio in question consists of projects that will operate under Chile's special regime for distributed generation (DG) projects, known as PMGD. Each of them will have a maximum capacity of 9 MW and sell power at the regulated stabilised price.
While Solek is based in Prague, its largest presence is in Chile. It also has plants at home and in Romania.