IDB backs Chilean PV projects

The Inter-American Development Bank (IDB) will lend more than $41m to the developer of three PV plants in Chile.

IDB will make the loans to support 26.5MW being built by SolarPack of Spain in Chile’s Atacama Desert.

The solar capacity will supply power to local mining operations.

"This is one of the first large-scale solar energy projects in the region,” said Jean-Marc Aboussouan, chief of the Infrastructure Division of the IDB’s Structured and Corporate Finance Department.

“This project has a lot of upside. It helps reduce the country’s carbon footprint and is in line with the priorities of both Chile and the bank.”