Mytilineos has successfully closed financing with a group of lenders, including BNP Paribas, Intesa San Paolo, SMBC, Rabobank, and Santander Chile for a 588MWp solar portfolio in Chile.
DNV served as a market advisor in the deal which covers the Willka, Doña Antonia, Tocopilla, and Tamarico projects.
The sites are at different construction stages, with Willka already operational, Doña Antonia set to be energised in February, and Tocopilla and Tamarico under construction.
Once online, the solar plants are expected to generate around 1.6TWh of green electricity annually, reducing over 1 million tonnes of CO2 emissions yearly.
Enel Chile has committed to purchasing most of the power produced through 10-year PPAs.
The sites will also be eligible to receive capacity payments from the Coordinador Eléctrico Nacional (Chilean ISO).
This is Mytileos’ third project financing of solar schemes internationally, and the first in Chile.
DNV’s advisory role played a key part in achieving the financing milestone, supporting Mytileos and contributing to the acceleration of renewable energy deployment in Chile.