Solarpack raised $104 Million for 135.5 MWp Project in India and Chile

Solarpack announced that it has raised USD$104 million for nine PV plants of total capacity 135.5 MWp, in Chile and India. A group of Chilean banks has financed projects for $35 million and in India for $69 million.

Solarpack’s has three projects in the Chilean Atacama Desert, each of 10.5 MWp, and six solar plants in India with a total capacity of 104 MWp. The state distribution companies of India TSNPDCL and TSSPDCL  will buy the electricity produced for a period of 25 years, through a long-termPPA. This is Solarpack’s first contract in India, and it is hoped that the plants will generate around 160 GWh a year.

Solarpack’s CEO, Pablo Burgos said that Reaching financial close in such different geographical areas demonstrates once again the immense confidence that banks and international credit institutions have in Solarpack’s bankability, business model and management. This represents a new milestone for the company, which is pushing ahead with plans to expand its international presence and deepen its experience in the market it operates in.

Image Source: Solarpack