Spanish solar developer Solarpack has signed financing deals for its Pozo Almonte and Calama Solar 3 photovoltaic (PV) projects, being developed in Chile.

The Inter-American Development Bank (IDB) and France’s Institution Financiere de Developpment (PROPARCO) will provide the funds.

The agreement with the two development institutions is thought to be worth in excess of $65m.

According to Spain’s news agency Europa Press, these solar projects mark two firsts – the first time that project finance has been used in Chile’s solar sector and the first time PROPARCO has participated in project finance in Chile.

Pozo Almonte and Calama Solar 3 have capacities of 25.4 MWp and 1.1 MWp respectively.

The Chilean copper mining companies Codelco and Collohuasi will purchase the electricity generated by the plants.

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