SunEdison Gets $100 Million OPIC, IFC Loan for Chile Solar PlantJustin Doom
SunEdison Inc., the solar developer and polysilicon supplier formerly known as MEMC Electronic Materials Inc., received $100.4 million in loans from Overseas Private Investment Corp. and the World Bank Group to build a power plant in northern Chile.
OPIC, the U.S. government’s development finance institution, provided $62.9 million in debt financing and the World Bank’s IFC unit contributed $37.5 million, St. Peters, Missouri-based SunEdison said today in a statement. Rabobank International also provided a local Chilean peso VAT facility worth $25.6 million.
The 50.7-megawatt San Andres solar farm in the Atacama region will be connected to Chile’s Central Interconnected System in the first quarter and will sell power on the spot market, according to the statement.