Latin America PV News Snippets

Matrix Renewables Announces ‘Largest’ PMGD Portfolio Ever Financed In Chile… & More

Latin America PV News Snippets

Latin American solar PV market is increasingly attracting investors. Matrix and Solek have announced financial closure for their PMGD projects in Chile and MPC Energy in El Salvador. (Illustrative Photo; Photo Credit: Bilanol/

  • Matrix Renewables has closed a financing agreement in Chile for 328 MW distributed solar PV projects under PMGD regime
  • Solek has secured $15.1 million from CIFI for its Chilean solar projects; initial credit line to be used for 2.99 MW capacity
  • MPC Energy Solutions will undertake construction for 21.07 MW solar in El Salvador after achieving financial closure with Banco Agricola

Matrix Renewables has raised $290 million for 328 MW solar in Chile, while Solek has secured $15.1 million for its solar projects in Chile and MPC Energy discloses financial closure for 21.07 MW solar in El Salvador.

$290 million for 328 MW solar in Chile: Matrix Renewables has closed a long term financing agreement worth $290 million to support its portfolio of 328 MW distributed solar PV projects in Chile. This, it claims, is the largest portfolio ever financed under the country’s Pequeños Medios de Generación Distribuida (PMGD) scheme and the 1st long-term US Private Placement for this type of asset. Matrix added that these projects are part of its previously announced development agreements with Trina Solar and Verano Capital. Some capacity of the total is under construction or in late-stage development with remaining already operational.

Solek gets $15.1 million for Chilean projects: Latin American infrastructure financier Corporación Interamericana para el Financiamiento de Infraestructura (CIFI) has signed a loan agreement for $15.1 million for Solek to construct its Chilean solar projects. Initial credit line will be used for the construction of Don Flavio and El Huaso projects in Maule and Valparaiso regions representing a combined capacity of 2.99 MW. Solek is part of the transaction through its subsidiary Solek Chile Holding III Spa. Other projects will be added in due course, said Solek.

MPC Energy raises funds for 21 MW in El Salvador: Netherlands based MPC Energy Solutions (MPCES) has achieved financial closure for 21.07 MW solar capacity in El Salvador having raised the amount from local lender Banco Agricola. Management said total project investment expected is $25.3 million of which 75% is financed through a 15-year project financing facility. The financial closure gives a construction go ahead to Spain’s EPC company Enerland Group. The capacity is planned as Santa Rosa and Villa Sol projects that are scheduled to come online in Q4/2022. On completion, the projects will generate close to 43 GWh annually which is contracted to be sold to local subsidiary of US based AES, CAESS under a 20-year power purchase agreement (PPA).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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