SunEdison Incorporated (NYSE:SUNE) of the US has been awarded close to $213m in project financing to help build what is expected to be Latin America’s largest solar photovoltaic (PV) power plant, reports Bloomberg.
The Overseas Private Investment Corporation, the US government’s development finance institution, provided a $147.5m loan, while IFC, a member of the World Bank Group, gave $65m of debt.
According to Lilian Alves, a Sao Paulo-based analyst for Bloomberg New Energy Finance, the financing package is the largest for a solar park in Latin America and demonstrates a growing confidence among investors for these types of projects.
Construction of the 100 MW Amanecer Solar CAP project started last month near the city of Copiapo in Chile‘s Atacama region, and is expected to be completed in the first quarter of next year.
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