Solek safeguards USD 85m for DG solar projects in Chile

• Czech solar developer Solek Team has gotten a USD-85.25-million (EUR 69m) senior protected facility to sustain a portfolio of photovoltaic or pv (PV) projects in Chile with a combined capacity of at the very least 110 MW.

The transaction was totally financed by Natixis SA (EPA: KN), which functioned as single lead arranger, hedge service provider, letter of credit providing financial institution and administrative representative.

The portfolio in question includes projects that will certainly operate under Chile's special program for dispersed generation (DG) projects, called PMGD. Each of them will have an optimum capacity of 9 MW as well as sell power at the managed secured price.

While Solek is based in Prague, its largest presence is in Chile. It additionally has plants in the house and in Romania.