Etrion finances 70MW Chile PV array

Etrion has reached financial close for its 70MW Project Salvador in Chile, leaving the $200m PV array on track to break ground next month in the Atacama Desert.

Salvador – like SunEdison’s 51MW San Andres project underway in Chile – will operate on an entirely merchant basis, selling its electricity directly onto the grid without subsidy.

Like SunEdison’s at San Andres, Etrion will source most of the non-recourse project debt for Salvador from the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution.

OPIC will provide Etrion – which has tapped US solar group SunPower to build and kit out Salvador – with $140m in project debt which comes with a 19.5-year tenor.

The remaining $60m will be provided by Log in to read complete article.

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