Solek secures US$379 million in funding for Chilean solar projects

Facebook
Twitter
LinkedIn
Reddit
Email
Solek plans to build 39 more new PV plants in Chile before the end of 2024. Image: Solek

Czech solar power company Solek has reached a funding agreement with several banks and investors to provide US$379 million for its solar power portfolio in Chile.

The funds will be used to complete work at three projects currently under construction, the Tutuven, Cauquenes and El Conquistador facilities. The financiers include investment banks BNP Paribas and Natixis, both based in France, and their investments will include a US$178 million private placement and a US$55 million loan for Pequeños Medios de Generación Distribuida (PMGD) projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

These PMGD projects are distributed renewable power projects, the governance of which was reformed by the Chilean government in 2022. The government defines a PMGD as a power project with a capacity of no more than 9MW, and PMGDs can benefit from a number of perks, including automatic access to the national grid and reductions in transmission tolls. While the future of this legislation remains unclear, it has encouraged investment in the sector in recent years.

“In aggregate, Natixis has financed or arranged approximately US$1.8 billion to support the development of PMGD renewable power generation projects in Chile,” said Aitor Alava, managing director and head of infrastructure and energy finance in Latin America at Naxis.

“We look forward to continuing to support the sponsor in its growth in the region and to support Chile’s continuous efforts toward energy transition,” added Alava.

Similarly, Solek has invested heavily on distributed power in Chile, opening the majority of its small-scale projects in recent years. Solek manages 17 solar projects in Chile that began operation in 2021 or later, compared with ten that began operation before 2021, and projects such as the El Conquistador facility fit this mould of distributed generation. The project has a capacity of 2.99MW, the same as the company’s Colchagua facility, which was completed in 2022.

In recent years, Solek has developed a number of solar projects to meet a number of ambitious production targets. The company’s Chilean projects have a combined capacity of 284MW, and its aims to expand this to 400MW across its global operations by the end of this year. Solek has already announced plans to build more than 38 new solar projects in Chile by the end of 2024.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

August 27, 2025
Solargis' Marcel Suri reports on the mixing of datasets in solar project planning to artificially enhance financial attractiveness.
August 22, 2025
Polish independent power producer (IPP) R.Power plans to sell a 440MW ready-to-build PV portfolio in its home country.
August 22, 2025
AEMO has predicted the NEM will see a steady rise in renewable energy generation capacity, reaching 229TWh by 2035.
August 21, 2025
Canadian Solar shipped 7.9GW of modules in the second quarter of this year, a 14% quarter-on-quarter increase.
August 21, 2025
Qair has secured a US$5.7 million senior debt facility to finance the development of a 5.8MW floating solar (FPV) project in Seychelles.
August 20, 2025
Israel-headquartered independent power producer (IPP) Econergy has started commercial operations at its 87MW Oradea solar project in Romania.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines