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Sunedison closes US$ 190 million project financing for large solar power plants in Latin America

Belmont, USA - SunEdison, Inc. announced the closing of a US$ 155 million non-recourse debt financing arrangement with the Overseas Private Investment Corporation (OPIC), the Inter-American Development Bank (IDB), and CorpBanca, a prominent Chilean commercial bank, who also provided a local Chilean Peso VAT facility equivalent to US $35 million.

The debt proceeds will be used in Chile for the construction of a 72.8 MWp (megawatt) merchant solar power plant.

Interconnection of the 72.8 MWp plant is expected to take place during 2014. Once completed, the project, called "Maria Elena" and located in the Antofagasta region of Chile, is set to become one of the largest solar photovoltaic merchant power plants in Latin America and one of the largest in the world. Electricity generated from the merchant solar plant will be fed directly into the Chilean national electricity grid and will be sold directly in the spot market without any incentive support.

Jose Perez, president, Europe, Middle East, Africa and Latin America for SunEdison, stated: "Today marks a new milestone in the energy industry



Source: IWR Online, 03 Jul 2014

 


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