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Stalled Chile Solar Farm Is Seeking $800 Million to Restart

  • Abengoa put project on hold in 2016, EIG took over in December
  • ‘Several international banks’ interested in financing project

A stalled solar-thermal project in northern Chile backed by a U.S. private equity investor is seeking about $800 million in debt to resume construction, according to people familiar with the deal.

EIG Global Energy Partners, the U.S. private equity investor that took over the $1 billion Cerro Dominador solar plant last year, has received interest from “several international banks,” Fernando Gonzalez, the project’s chief executive officer, said in an email Monday. He started pursuing project-finance debt about three weeks ago, and declined to say how much he’s seeking. The company expects to close a deal this year.