Sojitz Corporation of America (SCA), a US subsidiary of global trading and investment company Sojitz Corporation, has signed an agreement with Grupo T-Solar Global (T-Solar), which is affiliated with Spain-based Grupo Isolux Corsan, to become a 49% equity owner in two solar plants in Peru.
The Majes and Reparticion solar plants, both with a capacity of 22MW, are located in Arequipa in southern Peru and were the first large-scale solar projects in Peru.
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Commercial operation of the projects began on 1 July 2012 with two 20-year fixed price power purchase agreements guaranteed by the Ministry of Energy and Mines of Peru. The projects are also connected to Peru’s national grid.
In 2011, the board of the Overseas Private Investment Corp. (OPIC) approved US$123 million in financing for the construction of the two plants, said to be the first large-scale solar power project in the Latin American country.