Sonnedix expands Chile presence with CAF financing for Atacama project
Global solar independent power producer Sonnedix has further expanded its presence in Chile through the financial close of $99 million (€88 million) in new non-recourse project financing.
The financing was provided by Latin American development bank CAF as Lead Arranger, Administrative Agent and Senior Lender, and by Banco BICE and Banco Security, as Senior Lenders, for its 171MWp Atacama Solar PV plant, in the Pica district in the Atacama Desert in Chile.
Sonnedix was advised by Pan American Finance (financial), Skadden, Arps, Slate, Meagher & Flom LLP and Claro & Cia (legal), and DNV GL (technical).
The project will be the second largest solar project in the country once completed.
The Atacama Solar PV plant will generate approximately 470GWh of clean electricity annually, avoiding the emission of around 200,000 metric tonnes of CO2 per year compared with thermal generation.
