Rame Energy to pour USD 300m in Chilean wind, solar projects – report

UK-based Rame Energy Plc (LON:RAME) plans to invest roughly USD 300 million (EUR 268m) into wind and solar power projects in Chile this and next year, CFO Kevin McNair told Bloomberg.

More specifically, over the next 18 months the company aims to build 130 MW of capacity.

A portion of the needed funds will be provided by Spain’s Banco Santander SA (BME:SAN) and Rame will be looking for other sources of funding, McNair was cited as saying.

The company has already made measurements at over 30 sites for green projects in Chile.

Rame Energy is now very close to the completion of construction works at the 15-MW Raki-Huajache wind project. The Plymouth-based firm holds a 20% stake in the Chilean project and the rest is in the hands of Santander Investment Chile, a unit of Banco Santander.

In 2015, Rame expects to wrap up 40 MW of wind and solar projects, which call for an investment of about USD 110 million, Bloomberg said.

More Stories From Around the Web: