Post by nilprojaproti22 on Mar 16, 2024 4:17:33 GMT
SunEdison, (NYSE:SUNE), a leading global provider of solar photovoltaic energy, today announced the closing of a $100.4 million non-recourse debt financing agreement with Overseas Private Investment Corporation (OPIC), an investment institution. financial development of the United States government and IFC, an institution that is part of the World Bank Group. The funds will be used for the construction in Chile of a 50.7MWp solar energy plant, which will inject energy directly into the Central Interconnected System (SIC), marketing all its production in the spot market (merchant solar).
OPIC provided US$62.9 million, while IFC provided a parallel loan of US$37.5 million and Rabobank provided US$25.6 million, corresponding to VAT financing in Chilean pesos.
The interconnection of the 50.7 MWp plant is expected to take place during the first quarter of 2014. Once completed, it is estimated that the project, called “San Andrés” and located in Atacama, will become the merchant plant largest photovoltaic solar energy plant in Latin America in 2014 and one of the largest in the world.
Pancho Pérez, President of SunEdison for Europe, Middle East, Africa and Latin America, stated: “This plant represents significant growth for SunEdison and the Chilean photovoltaic industry, and important value creation Phone Number AU for our company, investors and the region. . The “San Andrés” solar photovoltaic plant reaffirms SunEdison's ability to implement innovative energy solutions aimed at consumer energy needs, contributing to the growth of the national economy by reducing energy costs and setting trends in the sector globally. “We are very proud to partner again with OPIC, IFC and Rabobank in Chile to carry out this emblematic project at an international level.”
Furthermore, he noted: “When it is completed, San Andrés will be one of the first merchant solar energy plants and will demonstrate that photovoltaic solar energy is already a competitive energy source in countries like Chile. This project consolidates SunEdison as a benchmark in the Latin American energy market and reaffirms our commitment to the development of renewable energies in Chile.”
OPIC is delighted to support this flagship project that will help Chile take advantage of its solar potential, increasing energy access while creating new local jobs,” said Elizabeth L. Littlefield, president and CEO of OPIC. “This renewable energy project is of great importance to OPIC in Chile and we look forward to further progress as we continue our close collaboration with SunEdison,” she added.
This project proves that with the right sponsors, the right environment and financiers, debt financing has become a viable option for merchant solar plants. IFC's support is a continuation of our strategy to promote commercially competitive renewable solutions in Chile and the region,” said Jean Phillippe Prosper, IFC vice president for Sub-Saharan Africa, Latin America and the Caribbean.
At Rabobank we are very happy to extend our relationship with SunEdison through the financing of the second Chilean photovoltaic solar energy plant,” said Thomas Emmons, Head of Project Financing at Rabobank in the Americas. «Our support for the “San Andrés” and “Amanecer Solar CAP” plants is a sign that we believe in long-term renewable energy projects in Chile (where we are also present in loans for agribusiness) and that we are committed to the creation of alliances with leaders in the solar energy industry, such as SunEdison,” he added.