IDB considers Chile solar project finance

Thursday, June 26, 2014

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

The bank is considering a US$47.1mn loan to Sky Power Holdings for its 40MW Arica 1 project, which will connect to Chile's northern SING grid via an 18km transmission line.

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The project will be located in Arica region (XV), 26km east of its namesake capital city. Total investment for the project was estimated at US$103mn.

The second loan application, submitted by French company SolaireDirect, is for the 53MW Los Loros PV plant in Copiapó province, Atacama region (III). This plant would connect to the central SIC grid and require estimated IDB financing of US$50.4mn.

Total investment required for Los Loros was estimated at US$134mn. Chile's Environmental Evaluation Service (SEA) approved the project in March.

SolaireDirect launched its first Chilean operation, the 1.26MW Andacollo solar plant, in Coquimbo region (IV), in 2013. The firm's 90MW Capricornio and 47.4MW Carreira Pinto projects are awaiting SEA approval.

Sky Power has a 25GW international solar pipeline, according to its website.