San Pedro III solar plant achieves financial close, Chile
The US$114 million San Pedro III solar photovoltaic plant, located near Calama in Chile, has successfully reached financial close. Mott MacDonald was lenders technical advisor during the projects financing and is now monitoring construction of the plant.
San Pedro III is part of an ambitious programme to deliver 150MW of photovoltaic power in the local area by Rijin Capital Chile. The 55MW facility will be delivered in two phases and generate approximately 150GWh a year once connected to the grid.
Mott MacDonald provided technical due diligence to the project’s lender, including a review of the suite of contracts and the generation forecast analysis.
Simone Mandica, Mott MacDonald’s project manager, said:
“We are pleased that this important stage of the scheme has been achieved and look forward to continuing to support the project while construction is completed and during the commissioning and start-up of the plant.”
“Mott MacDonald has a long and successful track record of helping clients develop reliable and efficient solar thermal and large-scale grid-connected photovoltaic projects,” Simone added.
The initial phase of the plant, totalling 33MW, is currently under construction and scheduled to be connected to the grid during the first quarter of 2015. The second phase comprising the remaining 22MW is expected to be completed later in the year.