Solarpack secures financing for 135 MW of solar in Chile and India

Spanish PV project developer Solarpack announced it has secured financing for nine PV projects with a combined capacity of 135.5 MW. The company said it was awarded a $35 million financing by a group of unspecified Chilean banks for three distributed generation solar projects. Furthermore, Solarpack has received $69 million from an unnamed Indian financial entity for six projects in India.

The Chilean projects have each a capacity of 10.2 MW and are located in the Chilean Atacama Desert. Two of the projects, the Pozo Almonte I and Calama Solar I are already operational, while the Puerto Seco is expected to come online in June.

As for the Indian projects, the company said the six plants will have a combined capacity of 104 MW and will all located in the state of Telangana. All these projects have a 25-year PPA with local state distribution companies TSNPDCL and TSSPDCL.

“Reaching financial close in such different geographical areas demonstrates once again the immense confidence that banks and international credit institutions have in Solarpack’s bankability, business model and management,” said the company’s CEO Pablo Burgos.

The company owns and operates over 150 MW of PV capacity in Spain, Chile, Peru and Uruguay. Furthermore, Solarpack manages a manages a portfolio of more than 1.2 GW of projects in several countries.