Enel Group’s renewable project developer, Enel Green Power (EGP) has secured a US$150 million loan towards developing renewable energy generation projects in Chile.
Banco Bilbao Vizcaya Argentaria Chile provided the five year loan, to be remitted to EGP in the following few months for the partial finance of projects in Chile.
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EGP already has a renewables portfolio in Chile of 182MW of wind and hydro electric plants.
EGP began construction on its first PV venture in Chile this November, for the 36MW Diego de Almagro solar power plant. The project requires an estimated US$60 million of investment.
EGP has two further solar PV projects in its pipeline. The 122MW 'Sol de Lila' requires an investment of approximately US$285 million and the 50MW 'Proyecto Fotovoltaico Flor del Desierto' requires US$110 million. Both have been approved by the environmental authorities in Chile.