Sonnedix reaches financial close for a 171 MW project in northern Chile

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Netherlands-based independent power producer Sonnedix has secured financing of $99 million for a 171 MW solar project it wants to build in northern Chile.

According to the company, the non-recourse project financing was provided by a bank consortium led by the CAF development bank of Latin America and including Banco BICE and Banco Security.

The solar park is planned for the Pica district of the Atacama Desert and includes the construction of a 45.5 km, 220 kV voltage transmission line which will connect the project’s substation with the National Electric System at the Lagunas substation. The facility is expected to produce around 470 GWh annually.

“Closing this new project financing for our Atacama solar plant represents an important milestone for Sonnedix, and for Chile’s position as a clean energy leader, as we continue to expand our PV footprint to help the country achieve its renewable energy goals,” said Axel Thiemann, Sonnedix CEO. The company claims it has a 400 MW project development pipeline in the country.

In January, Sonnedix acquired two portfolios with a total capacity of 32 MW in Chile. The projects, which range in generation capacity from 3-9 MWac, are being developed under the country’s PMGD program for distributed generation – the Pequeños Medios de Generación Distribuida.