IDB approves Chile solar financing

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Thursday, December 18, 2014

The Inter-American Development Bank (IDB) approved financing for two photovoltaic (PV) solar projects in Chile.

The bank will provide loans of up to US$56.4mn for the 53MW Los Loros plant near the city of Copiapó, Atacama region (III), bank documents said.

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SolaireDirect is developing the US$111mn project, which will connect to the central SIC grid.

The bank also approved loans of up to US$50.1mn for the 40MW Arica I project in Arica region (XV).

Sky Power Holdings is developing Arica I, which will connect to the northern SING grid and cost US$103mn in total.

Environmental authority SEA has approved both projects.

The news follows an announcement from SIC operator CDEC-SIC that it will build a new dispatch and control center, in part to better manage increasing output from solar and wind farms.