Valhalla Seeks to Build Largest Latin American Solar Project

Valhalla Energia is seeking to build Latin America’s largest solar project in Chile, a $1 billion facility that would generate 600 megawatts of power.

The Cielos de Tarapaca in northern Chile will be about 75 kilometers (47 miles) southeast of the city of Iquique, the closely held company said in an e-mailed statement Thursday. Santiago-based Valhalla applied for environmental permits last week to build the project, according to Chile’s Environmental Assessment Service.

Chile has the fastest growing market for solar energy, with installed capacity increasing by a factor of 100 last year to 400 megawatts, according to the Chilean Energy Ministry. Renewable energy developers plan to invest $7 billion in solar and wind projects in the nation, Energy Minister Maximo Pacheco told reporters Aug. 14.

Before it's here, it's on the Bloomberg Terminal.