Milbank, Tweed, Hadley & McCloy LLP has advised lenders in relation to two independent renewable energy projects in Mexico and the Dominican Republic, respectively. These projects are in addition to the recent renewable energy loans that were closed in Argentina, Chile and El Salvador.
Around 20 GW of solar PV projects were initially competing in the contest. PV was again the source with the largest share, accounting for around 80% of total assigned capacity. The final average price for solar was 118 BRL (US$35.2)/MWh.
This new transaction is intended to support projects selected in Round 3 of Argentina’s renewable energy program for large-scale projects. The funds are expected to leverage private investments for an amount that should be nine times higher than the value of the guarantee.
The solar trackers made by the U.S. manufacturer will be used for the construction of the 754 MW Villanueva solar project in Torreón, in the Mexican state of Coahuila.
The National Mining Company of Chile (ENAMI) will be the first Chilean mining company that will have all of its electricity demand covered by clean energy sources. Supply of electricity under the long-term PPA will begin in April 2018.
Colombia’s Energy and Gas Regulatory Commission approved the 2018 Resolution CREG 030 last Friday, which regulates how solar PV system owners can sell surplus power to the National Interconnected System under net metering.
Twenty countries, including Brazil, have already ratified their alliance with the organization. For the executive president of ABSOLAR, the initiative will represent a strategic step to position Brazil as a main player in the international solar PV sector. Meanwhile, the cumulative installed capacity of DGPV system connected to the Brazilian grid has reached 200 MW.
The $110 million project is expected to generate 220 GWh per year.
Although tobacco consumption is the key cause of avoidable deaths worldwide, its cultivation remains the main source of income for many farmers. Now, two researchers from the Michigan Technological University claim that converting tobacco fields to solar farms could be beneficial for two purposes: reducing deaths and helping solar energy fight climate change.