SunEdison bags USD 155m for 73-MWp Chilean solar plant
Jun 30, 2014 - US solar technology firm SunEdison Inc (NYSE:SUNE) said Friday it had secured USD 155 million (EUR 114m) in non-recourse debt financing for the construction of its 72.8-MWp Maria Elena solar farm in Chile.
The US government’s Overseas Private Investment Corporation (OPIC) will provide USD 48.9 million of the total, the Inter-American Development Bank (IDB) will extend 50.3 million, and the Clean Technology Fund (CTF) will provide USD 16 million. In addition, SunEdison will receive USD 39.8 million in funds from Chilean lender CorpBanca (SCL:CORPBANCA), which will also provide a Chilean Peso value-added tax (VAT) facility of USD 35 million.
The Maria Elena solar park will be located at Chile’s northern Antofagasta region and will be owned and operated by SunEdison. The plant is expected to be connected to Sistema Interconectado del Norte Grande’s (SING) power grid this year. Its output will be sold on the spot market.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.