The nine projects were financed for a total amount of US$104 million. Image: Solarpack
Spanish PV project developer Solarpack announced last week that it has closed financing for nine PV projects in Chile and India for a total amount of US$104 million.
A group of Chilean banks financed US$35 million for three projects in Chile, while an unnamed Indian financial company provided US$69 million for six projects in India.
These nine projects will have a combined generation capacity of 135MW. The three projects located in the Atacama desert in Chile will each have a generation capacity of 10.5MW. The Pozo Almonte I solar plant and the Calama Solar I solar project are already in operation, while the Puerto Seco project is expected to commence operations in June 2017.
The six solar projects in India, located in the state of Telangana, are expected to enter operation between the second and third quarter of 2017. The six projects will have a total generation capacity of 104MW. State distribution companies TSNPDCL and TSSPDCL will acquire electricity generated by the Indian projects over a 25-year period through a long-term PPA.
Pablo Burgos, managing director of Solarpack, said: "The closing of this financing process in such different geographic areas highlights once again the great confidence that banks and international lending institutions have in solvency, business model and management of Solarpack. It is a new milestone for the company, which is moving forward in its plans to increase its international presence and deepen the local experience of those markets in which it operates."
The PV IndiaTech 2020 conference will continue to bring together all key domestic and overseas stakeholders, including government bodies, investors, and the leading companies today from manufacturing to O&M and asset management. To thrive globally as a major PV power beyond 2020, India has to succeed in unlocking its potential both to manufacture and to lay claim to quality utility-scale solar farms that are providing high returns on investment to site owners.
The Energy Storage Latin America agenda provides the industry with an unrivaled opportunity to discuss how the region is set to unlock the full potential of energy storage, accelerate deployment and address the main regulatory and financing challenges. The Energy Storage Summit Latin America is the first event of its kind, designed with a clear goal to accelerate both dialogue and deployment of energy storage solutions. Hear from a world-class line up of industry speakers discussing: The changing market, Active and pending projects, Regulatory environment, Financing options and New storage technologies. This event is the only place where the entire energy storage value chain will be present. Enquire now and be part of an unparalleled platform enabling you to network and do business with: Government, Utilities, Developers, EPCs, Investors and more.
Understanding bifacial’s true potential: technology innovation and technical bankability of bifacial
The deployment of bifacial PV technology is growing rapidly. It has proven to be the most effective solution to reduce levelised energy costs (LCOE) and increase the Investment Rate of Return (IRR) of PV systems, offering substantially improved energy yield compared to the use of standard mono-facial modules. Even though the concept is not new, it has been a niche technology for many years with uncertainties in predicting performance and optimizing installations. Today, bifacial technology is becoming mainstream, with capacity available at the multi-gigawatt scale and with corresponding global deployment of project pipelines. Join this webinar, presented by Andrea Viaro, as he discusses the award-winning Swan bifacial module with transparent backsheet from DuPont, its features, benefits and differences vs. standard glass-glass modules. Jinko Solar’s new bifacial technology innovations will also be highlighted, specifically covering profitability in deployment at utility-scale PV power plants. Andrea will be joined by Dr.Lars Podlowski who will give a comprehensive introduction to all aspects of bifacial PV technology, with a special focus on benefits and risks industry buyers and investors should pay attention to.