OPDenergy completes $103M financing for two projects in Chile

OPDEnergy has closed of a $103 million financing for two of its wind farm landmark projects in Chile.

The financing was given to Opdenergy by Sumitomo Mitsui Banking Corporation (SMBC). The funds obtained will be allocated to the construction of the La Estrella wind farm, located in the Bernardo O’Higgins area of Libertador General and the Sol de los Andes PV plant in the Atacama area.

The wind farm at La Estrella would have installed capacity of 50 MW. This park, which OHL Industrial is constructing, will have eleven wind turbines supplied by Siemens Gamesa.

In particular, they are SG 5.0-145 model turbines, a reference in terms of LCOE and productivity for midwind locations, making La Estrella one of the country’s most advanced and productive wind farms. The wind farm at La Estrella is scheduled to be operational by the end of 2020.

The Sol de los Andes PV facility, the other project supported by this funding, has 104.3 MWp of installed capacity.

This will be one of the most important energy generation projects as it is located in an region with high solar radiation and has the latest technologies available on the market for this type of plant, such as bifacial modules, which allow the capture of solar radiation on both sides of the modules.

Also for this project, Opdenergy is also working as an EPC contractor, which means it is responsible for all the design , supply and construction services.

“We are very proud to announce further progress in our projects in Chile. The entire Opdenergy team is doing a spectacular job to continue advancing in these times of uncertainty and this financing reaffirms our ability to adapt to the different market contexts and continue to move forward despite the difficulties created by the pandemic at a global level. In Opdenergy we have managed to maintain the activity and the path of the company, always guaranteeing the safety of all our employees and partners.“

Luis Cid, CEO of Opdenergy.

“This financing is an important step for Opdenergy in Chile. It will allow us to complete two major projects that will diversify the country’s energy mix and will certainly contribute to the economic development of the region. We are convinced that together we will overcome the situation created by covid-19 and, with no doubt, renewable energies will be a key element to achieve a sustainable recovery.”

Carlos Ortiz, managing director of Opdenergy Chile.