DNV supports MYTILINEOS S.A. in securing financing for Chilean solar farms
Published by Jessica Casey,
Editor
Energy Global,
DNV, an independent energy expert and assurance provider, has announced that MYTILINEOS S.A. has successfully closed financing with a group of lenders, including BNP Paribas, Intesa San Paolo, SMBC, Rabobank, and Santander Chile. DNV served as a market advisor in this financing deal for a portfolio of solar farms including the Willka, Doña Antonia, Tocopilla, and Tamarico projects in Chile, totalling 588 MWp.
Chile, known for its solar potential and commitment to decarbonisation, is a promising solar and storage power market. The projects are at different construction stages, with Willka already operational, Doña Antonia set to be energised in February 2024, and Tocopilla and Tamarico under construction. Once operational, these solar power plants are expected to generate around 1.6 TWh of green electricity annually, reducing over 1 million tpy of CO2 emissions. Enel Chile has committed to purchasing most of the power produced through 10-year power purchase agreements. The projects will also be eligible to receive capacity payments from the Co-ordinador Eléctrico Nacional (Chilean ISO).
DNV’s expertise and guidance have been instrumental in facilitating this momentous achievement. Their market advisory services have not only ensured the successful financial close but have also contributed to the acceleration of renewable energy deployment in Chile. This collaboration between DNV and MYTILINEOS S.A. signifies a significant step towards a sustainable future.
This is MYTILINEOS’ third project financing of solar PV projects internationally, and first in Chile. DNV’s advisory role played a key part in achieving this financing milestone, supporting MYTILINEOS and contributing to the acceleration of renewable energy deployment in Chile.
“This collaboration signifies a meaningful step toward a sustainable and greener future,” added Santiago Blanco, Executive Vice President and Regional Director, Southern Europe, Middle East, Africa and Latin America, Energy Systems at DNV. DNV remains committed to supporting the energy transition and facilitating the growth of renewable energy projects worldwide, using our knowledge and expe-rience to drive the realisation of ambitious decarbonisation goals.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2023 issue
The Winter 2023 issue of Energy Global hosts an array of technical articles weather analysis, geothermal solutions, energy storage technology, and more. This issue also features a regional report looking at the future of renewables in North America, and a report from Théodore Reed-Martin, Editorial Assistant, Energy Global, on how Iceland utilises its unique geology for renewable energy.
Read the article online at: https://www.energyglobal.com/solar/05022024/dnv-supports-mytilineos-sa-in-securing-financing-for-chilean-solar-farms/
You might also like
Copenhagen Infrastructure Partners, KK Invest, and Danish Bio Commodities to operate and develop biogas plants
KK Invest, DBC Invest, and Copenhagen Infrastructure Partners have entered into an agreement regarding the acquisition of the majority of the shares in Sindal Biogas.