ReNews | December 15th, 2014 — SunEdison is to build 350MW of solar PV projects in Chile after winning a supply contract with the nation’s National Energy Commission.
A string of 15-year power purchase agreements covers 570GWh per annum and the US company will plough some $700m into new facilities.
SunEdison will provide 190GWh per year during the daytime block, which begins in 2016, and a further 380GWh during the daytime block, which will become operational in 2017.
“This project demonstrates SunEdison’s ability to provide innovative energy solutions and compete on equal footing in the Chilean regulated market,” said SunEdison president for Latin America Jose Perez.
“Without incentives or subsidies of any kind, solar energy is up to 25% more affordable than imported fossil fuels in Chile.”
The plants will be added to the call right list of TerraForm Power, a financing partner and indirect subsidiary of SunEdison.
TerraForm president Carlos Domenech said: “Contracts like these demonstrate the cost advantage that solar and wind generation has established over conventional generation in many markets.”
Meanwhile, SunEdison has closed approximately $146m of non-recourse debt financing for 81.7MW of projects in Honduras.
The cash from the International Finance Corporation, the Central American Bank for Economic Integration and the OPEC Fund for International Development will back construction of three solar PV plants in the region of Choluteca.
The 23.3MW Pacifico, 23.3MW Choluteca 1 and 35.1MW Choluteca 2 will provide energy to the national grid under 20-year power purchase agreements with state-owned utility and are expected to be linked during the second half of 2015.