Cox Energy America will begin in the second half of 2021 the construction of the Sol de Vallenar photovoltaic project, which has a capacity of 308 MWp and is located in the Atacama Desert (Chile), one of the areas with the highest solar radiation in the world. Global investment will reach US$170 million. The solar park will generate revenue worth US$1 billion over its lifetime.
Grupo Cox Energy is in negotiations with various international financial institutions, with the aim of closing the structuring of the financing of what will be one of the largest photovoltaic plants in all of Latin America. The photovoltaic plant is backed by 20-year energy sales agreements, including those awarded to Cox Energy in the latest public energy tender by the Government of Chile.
Sol de Vallenar will connect to the SEN (National Electric System) through the 220 Kv Algarrobal substation, where it will evacuate the energy it produces that will amount to more than 800 GWh per year, sufficient to meet the energy needs of 275,000 households. The facility will prevent the emission of about 300,000 tons of CO2 into the atmosphere.
