Sonnedix and Cox Energy America close 98 million financing to develop 160 MW of solar power in Chile | Companies

The joint project Consists of Sonnedix, the worldwide independent producer of solar energy (IPP), and renewable energy group Cox Energy America that closed with funding from Sumitomo Mitsui Corporate Bank (SMBC) to fund $ 120 million (€ 98.28 million) to build and operate a 160 megawatt (MW) project Photovoltaic “Meseta de los Andes”, located in Chile.

This project, which is located in the Valparaíso region, in the municipalities of Cali Larga and Los Andes, is the second largest solar power plant in the Independent Power Station, after the 170 MW Sundex Atacama Solar began operating in early 2021, located in the Atacama Desert, the companies reported this. Thursday.

It is also one of the largest photovoltaic power plants in which Cox Energy América in Chile, along with El Sol de Vallenar park, has a capacity of 308 MW and is also located in Atacama.

During its construction, the project will create around 450 new local job opportunities, which will contribute to the socio-economic development of the region and boost the energy transition in the country.

Once completed, the solar power plant will generate more than 385 gigawatt hours of clean electricity annually, enough to meet the electrical power needs of 186,000 homes, and prevent the emission of nearly 160,000 tons of carbon dioxide into the atmosphere.

Sonnedis CEO, Axel Thiemann, confirmed it was a “flagship” project for the company globally.

For his part, Cox Energy America President and CEO, Enrique Riquelme, indicated that for the company it “represents the consolidation of its presence in Chile.” He also indicated that it is working to “strengthen the commitment acquired with the country.” With its shareholders by enhancing compliance with the Strategic Plan 2020- 2024 ‘.

“Chile is very important to us in terms of activity, investment, wealth creation and employment, with the aim of contributing to economic growth based on concern for the environment and people’s quality of life,” he added.

Sonnedix, present in Chile since 2015, has a portfolio of solar PV projects under development, construction and operation, with a total of 1.15 gigawatts (GW). For its part, Cox Energy America, a company present in the country since 2014, has a pipeline of more than 2000 MW in various stages of development distributed in Chile, Mexico, Colombia, Panama, Central America and the Caribbean.