IIC helps finance 54-MW solar project in Chile

More financing will help Chile continue its ascent as a Latin American leader in renewable energy. An A-loan of USD 19.7 million (EUR 17.9m) has been issued by the Inter-American Investment Corporation (IIC), and guaranteed by the Inter-American Development Bank, for the 54 MW Los Loros solar PV project in the Atacama Desert. The IIC has mobilized USD 18 million and USD 7 million in financing from the Canadian Climate Fund and the China Co-financing Fund, respectively. French development agency Proparco, in turn, has provided a senior loan of USD 19.7 million. The solar park is owned by French Firm Solairedirect SAS and upon completion, its generated electricity will be sold entirely to the spot market of Chile’s Central Interconnected System (SIC).

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