Acting on behalf of the Inter-American Development Bank (IDB), the Inter-American Investment Corporation (IIC) has helped finance the 54-MWp Los Loros solar photovoltaic (PV) project in Chile’s Atacama Desert.
IDB said in a statement today that IIC has extended an A-loan of USD 19.7 million (EUR 17.9m) towards the construction of the solar park, which is owned by French firm Solairedirect SAS.
Moreover, IIC has mobilised USD 18 million and USD 7 million in financing from the Canada Climate Fund for the Private Sector in the Americas and the China Co-financing Fund, respectively. French development agency Proparco, in turn, has provided a senior loan of USD 19.7 million.
Upon completion of the solar farm, its generated electricity will be sold entirely to the spot market of Chile’s Central Interconnected System (SIC).