Chile Solar Plant Clinches Funding

SunEdison has closed a $100m non-recourse financing package supporting a project in Chile with the Overseas Private Investment Corporation (OPIC) and the IFC, it says. The 51 megawatt San Andres solar power plant is located in the Atacama region and will sell power to the spot market. In the deal, $63m is coming from OPIC and $38m from IFC. The project also counts on a $25m CLP-denominated VAT facility. Once online in 2014, the plant should be LatAm’s largest solar photovoltaic merchant plant. SunEdison did not respond to a request for additional comment.