SunEdison nails $212m for Chile PV

US developer SunEdison has nailed $212m of finance to build a 100MW PV plant in Chile, which it says is on course to be the biggest solar project yet seen in Latin America.

SunEdison secured loan funding from the IFC, part of the World Bank, and the US Overseas Private Investment Corporation (OPIC).

The finance will be used to build the Amanecer Solar CAP plant in Chile’s sun-rich Atacama Desert, using 300,000 of SunEdison’s own modules.

The plant is being built for Chilean steel company CAP.

Amanecer Solar CAP is expected to be fully completed by the first quarter of 2014, with grid connection taking place in phases from the final quarter of this year.

Chile is an increasingly popular target market for PV developers, not least because of the need of the country’s mining industry for significant power generation in remote locations.

SunEdison’s US compatriot First Solar has applied to build a 162MW plant, also in the Atacama desert, and Swiss group Etrion recently secured a power purchase agreement for PV output in the country,