Sojitz enters solar power business in Chile

Sojitz Corporation has concluded a joint venture along with Shikoku Electric Power and Eiffage SA, to participate in the Huatacondo solar independent power producer project (IPP) in Chile. 

The  Huatacondo solar plant will be built in northern Chile’s Atacama Desert, which receives one of the highest levels of solar radiation in the world.

The project will have an installed capacity of 98 MW, and the power produced by the plant will be sold to Chile’s wholesale electricity market.

Construction work on the plant will start from this June, and operations at the plant are set to begin in August 2018. 

Shikoku Electric will be in charge of the engineering, procurement, and construction (EPC) as well as the operations and maintenance (O&M) of the PV plant.

Chile’s demand for electricity is expected to maintain stable growth as the country’s economy develops. The country is actively working to incorporate renewable energies into its energy mix, setting a renewable energy target of 70% for 2050. Chile is also the only country in South America that is a member of the Organization for Economic Co-operation and Development (OECD) and which possesses the transparent systems required for foreign investment.