Innergex obtains 50.6-MW solar park in Chile

Jan 31, 2022 01:12 PM ET
  • Canadian power producer Innergex Renewable Energy Inc (TSE: INE) has actually gotten the 50.6-MW San Andres photovoltaic (PV) plant in the Chilean Atacama desert.
Innergex obtains 50.6-MW solar park in Chile
Image: Innergex

The company paid a total amount of USD 25.7 million (EUR 23m), web of money, fully funded with offered cash in Chile and also corporate revolving credit facility draws, it was introduced on Friday.

Operating on a merchant basis, San Andres has an agreement to sell non-conventional renewable energy (NCRE) credit reports connected to its output to an unrevealed major power manufacturer in Chile up until 2034.

The solar park is expected to create 118.9 GWh yearly. San Andres is also expected to generate USD 5.5 million in profits throughout its initial complete year for the brand-new proprietor, of which USD 1.3 million are from the NCRE agreement.

Innergex's president as well as chief executive officer, Michel Letellier, noted that this PV plant has the potential for future growths and for the addition of a battery power storage space system.

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