DNV helps secure financing for solar farms07 February 2024

DNV Mytilneos solar farms Chile

DNV has helped Mytilneos secure financing for a portfolio of Chilean solar farms that are anticipated to produce approximately 1.6 terawatt-hours of green electricity each year.

Mytilineos is an industrial conglomerate that specialises in metallurgy, energy and engineering, procurement and construction.

Mytilineos closed financing with a group of lenders, including BNP Paribas, Intesa San Paolo, SMBC, Rabobank, and Santander Chile. DNV served as a market advisor for the solar farms, which include the Willka, Doña Antonia, Tocopilla, and Tamarico projects in Chile, totalling 588 MWp.

The projects are at different construction stages, with Willka already operational, Doña Antonia set to be energised in February, and Tocopilla and Tamarico under construction. Once operational, these solar power plants are expected to reduce more than 1 million tonnes of carbon dioxide emissions yearly. Enel Chile has committed to purchasing most of the power produced through 10-year agreements. The projects will also be eligible to receive capacity payments from the Coordinador Eléctrico Nacional.

Santiago Blanco, executive vice president and regional director, Southern Europe, Middle East, Africa and Latin America, Energy Systems at DNV (pictured), said: “This collaboration signifies a meaningful step toward a sustainable and greener future. DNV remains committed to supporting the energy transition and facilitating the growth of renewable energy projects worldwide, using our knowledge and experience to drive the realisation of ambitious decarbonisation goals.”

Operations Engineer

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