News Column

Chile,United States : SUNEDISON announces the closing of US $155 million for a solar power plant in CHILE

July 2, 2014

SunEdison, Inc. announced the closing of a US $155 million non-recourse debt financing arrangement with the Overseas Private Investment Corporation (OPIC), the US development finance institution, the Inter-American Development Bank (IDB), the largest multilateral lender to Latin America and the Caribbean, the Clean Technology Fund (CTF), and CorpBanca.

The proceeds will be used for the construction of a 72.8 MWp solar photovoltaic (PV) plant, to inject solar power into the Sistema Interconectado del Norte Grande (SING). Interconnection of the plant is expected to take in 2014. Once completed, the project is set to become one of the largest solar photovoltaic merchant power plants and the largest in the world. SunEdison will own and operate the plant to maximize its retained value. OPIC is providing US $48.9 million of debt, the IDB is providing US $50.3 million of debt and is administering the US $16.0 million of debt, and CorpBanca is providing US $39.8 million as well as the local Chilean Peso VAT facility for providing US $35 million.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters