IDB will make the loans to support 26.5MW being built by SolarPack of Spainin 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 theregion,” said Jean-Marc Aboussouan, chief of the Infrastructure Division of theIDB’s Structured and Corporate Finance Department.

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