I.D.B. to finance solar energy plant in Chile

Tuesday, June 10, 2014

The Inter-American Development Bank has approved a total of $66.4 million to finance a photovoltaic solar energy plant in the Chilean region of Antofagasta.

The approved budget will be comprised of $50.4 million loan from its ordinary capital pool and $16 million from its Clean Technology Fund. The money will be used to finance the construction, operation, and maintenance, along with the corresponding civil engineering works, of the PV solar energy plant.

Located 15.4 kilometers northwest of the city of Maria Elena, the plant will be part of the Crucero Photovoltaic Solar Energy Project.

The solar energy plant is expected to have a peak generating capacity of 72.8 megawatts and provide clean energy thereby reducing the dependence on fossil fuels in the Greater Northern Chile Interconnected System – where demand comes from mining companies and other industrial users.

Source: EcoSeed (link opens in a new window)

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Energy, Entrepreneurship, Environment
Tags
entrepreneurship, solar, sustainability