Sonnedix, Cox Energy America reach fin close for 160-MWp PV project in Chile
The Sonnedix Atacama solar farm. Image by Sonnedix (www.sonnedix.com)
Solar-focused independent power producer (IPP) Sonnedix Power Holdings Ltd on Thursday said that it has closed financing for a 160-MWp solar project in Chile, alongside its joint-venture partner Cox Energy America SAB de CV (BMV:COXA).
The solar energy companies secured USD 120 million (EUR 98.5m) from Sumitomo Mitsui Bank Corporation (SMBC) to fund the development of the Sonnedix Meseta de Los Andes solar PV project. The transaction was closed via their joint venture Sonnedix Cox Energy Chile, in which Sonnedix holds 70%, while its Mexico City-based partner owns the remaining 30%.
Sonnedix Meseta de Los Andes will be the second-largest solar farm in the IPP’s portfolio to date. Its largest plant, the 170-MW Sonnedix Atacama Solar, is also in Chile and came online early in 2021.
The new project is sited in Chile’s Valparaiso region. Once the plant starts operation, it will be capable of producing over 385 GWh of power per year, Sonnedix said.
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