February 27 (Renewables Now) – Germany’s KfW IPEX-Bank GmbH will provide a long-term loan of up to USD 91 million (EUR 79.9m) to finance the construction and operation of the 123-MW Granja solar photovoltaic (PV) farm in Chile’s Atacama Desert, the lender announced on Tuesday.
Spanish solar company Solarpack Corporacion Tecnologica SA (BME:SPK) will build, own and operate the Granja project on an investment that amounts to approximately USD 114 million. The work on the solar farm is scheduled to complete in 2019.
Power generated by the plant will be sold to 25 regional distribution companies in the period from 2021 until 2040. The remaining electricity will be sold on the spot market, the German bank informed.