Enel Green Power secures $150 million in financing for its Chilean RE projects
Post date: 09/01/2014
Enel Green Power Chile Ltda, a subsidiary of Italian renewable energy company Enel Green Power SpA (EGP), has secured a $150 million loan from Banco Bilbao Vizcaya Argentaria Chile to partially finance its renewable energy activities in Chile. The 5-year loan will be disbursed in the next few months.
In November, EGP announced that it had started construction of a 36 MW PV project in northern Chile. The Diego de Almagro project will be developed in the Atacama region and will use around 225,000 thin-film modules produced by Italian thin-film manufacturer 3Sun, a joint venture of EGP, Sharp and STMicroelectronics. EGP will invest $60 million in the project.
EGP has submitted two additional proposals for large-scale PV projects to Chilean environmental authorities. The Flor del Desierto and Sol de Lila projects would have a capacity of 50 MW and 122 MW, respectively, pending approval. The total investment for the two projects amounts to $395 million.
EGP is also active in Chile’s wind sector: the company recently connected two 90 MW wind farms in the country and is now in the process of constructing a $190 million 99 MW wind farm there. EGP is also considering developing geothermal projects in Chile.