The Natelu solar plant was built near Mercedes, in the Uruguayan department of Soriano. The project was financed by the Inter-American Development Bank (IDB) and the Canadian Climate Fund (C2F).
According to new statistics, new PV installations for last year totaled 24 MW. Furthermore, solar was able to cover 2% of power demand in 2016.
Net income hit $3.3 million in the 12 months to the end of December, from a net loss of $1.6 million a year earlier, although the Hong Kong-based PV independent power producer recorded a net loss of $8.7 million in the fourth quarter, from $7.4 million in the final three months of 2015.
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