Mytilineos concludes financing deal for 588MWp solar portfolio in Chile

Mytilineos has concluded a financing deal with a group of lenders for a 588MWp solar portfolio in Chile.

The deal was closed with BNP Paribas, Intesa San Paolo, SMBC, Rabobank, and Santander Chile. This is Mytileos’ third project financing of solar projects globally. However, this is the company’s first one in Chile.

The Willka, Doña Antonia, Tocopilla, and Tamarico solar projects are currently in different construction stages.

Out of these projects, Willka is already into operation, Doña Antonia is set to be energised in February, and Tocopilla and Tamarico are currently under construction.

According to the company, the solar plants are likely to generate around 1.6TWh of green electricity annually once they come into operation. It means that the projects will be able to reduce over 1 million tonnes of CO2 emissions annually.

Meanwhile, Enel Chile has agreed to purchase most of the power produced through 10-year PPAs.