Sonnedix achieves financial closure for 171 MW Atacama Solar PV Plant In Chile

Sonnedix has achieved financial close of US$99 million in new non-recourse project financing which is being provided by CAF –Development Bank of Latin America, as Lead Arranger, Administrative Agent and Senior Lender, and by Banco BICE and Banco Security, as Senior Lenders, for its 171 MWp Atacama Solar PV plant.

The Atacama Solar PV plant is located in the Pica district in the Atacama Desert in Chile, an area with the highest solar irradiation worldwide. The project will be the second largest solar project in the country once completed. The Atacama Solar PV plant will generate approximately 470 GWh of clean electricity annually, avoiding the emission of around 200,000 metric tons of CO2 per year compared with thermal generation.

On this transaction, Sonnedix was advised by Pan American Finance (Financial), Skadden, Arps, Slate, Meagher & Flom LLP and Claro & Cia (Legal), and DNV GL (Technical).