Pattern Energy Group completed approximately $205 million in project financing and the start of construction on its Conejo Solar PV power project in Chile. The 122-MW Conejo Solar PV power project is being constructed approximately 30 kilometers east of Taltal in Chile's Atacama Desert. Construction of the project is expected to be completed in the summer of 2016. Conejo Solar has a 22-year PPA with Minera Los Pelambres, an affiliate of Antofagasta Minerals, for approximately 65% of the project's output over the term of the agreement.
Alstom was selected by Transmisión Eléctrica del Norte (TEN), a subsidiary of E-CL an electric company based in Chile and part of the Engie Group, to supply four turnkey substations for Chile's first interconnection system, the Mejillones - Cardones Transmission line. The contract, worth approximately $278 million, includes the installation of three new 500-kV substations in Chacayita, Los Changos and Cumbres, as well as the expansion of the Nueva Cardones substation.
Pattern Energy Group’s (Pattern Development or the Company) Conejo Solar photovoltaic power project in Chile has secured a 22-year PPA with an affiliate of Antofagasta Minerals SA. The 104-MW Conejo Solar project was originated by Pattern Development and upon completion will be the largest solar energy project in Chile with a PPA. Conejo Solar will connect to the Sistema Interconectado Central's (SIC) 220kV transmission system and is located on public lands owned by the government of Chile with a long-term concession.
First Solar received board approval from the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution, and IFC, a member of the World Bank Group, for financing to support construction of the 141-MW Luz del Norte solar power plant in Chile's Atacama Desert. The loans, which are expected to close later this summer, clear the way for First Solar to proceed with construction planning at the site, which is near the city of Copiapo. Terms of the deals were not disclosed.