Santiago Solar 115MW photovoltaic power plant

Overview:

• Santiago Solar 115MW photovoltaic power plant
• Santiago Solar is a 115MW photovoltaic power plant being developed inn the Santiago area.
• Andes Mining & Energy and EDF EN Chile, both Santiago Solar shareholders, negotiated two loans to finance the construction of the project.
• Credit Agricole Corporate and Investment Bank, Sumitomo Mitsui Banking Corporation and DNB Bank acted as lenders. 
• The financing package included $112 million to finance the construction, $6 million for IVA and $1 million for the issue of bank guarantees. 
• Prior to the financing, EDF EN Chile acquired 50% of the shares of Santiago Solar from Andes Mining & Energy.  

Rani Mehta - Journalist