The Javiera power plant interconnection is scheduled to take place during the first quarter of 2015 and is expected to become one of the largest solar photovoltaic power plants in Latin America, upon completion.
SunEdison for Europe, Middle East, Africa and Latin America president Jose Perez said: "This project is further proof of the ability of solar photovoltaic energy to compete with other traditional energy sources in Chile , and demonstrates how clean energy technologies can contribute to meet the growing energy demand from the country’s mining industry."
The power generated from the facility will be provided to Minera Los Pelambres, a subsidiary of Antofagasta Minerals, under a 20-year power purchase agreement (PPA).
CorpBanca Wholesale & Corporate Banking Division managing director Rodrigo Oyarzo Brncic said: "We look forward to continuing to support the development of various business projects, especially those related to infrastructure and energy."
BBVA Project Finance head Carlos Lopez Rabadan said: "We are thrilled to see that the renewables market in Chile is taking off, as it sees industrial partners signing bankable PPAs, as well as commercial banks financing projects with relevant partners and attractive prices.
SunEdison will also operate the plant under a long-term operation and management (O&M) agreement.
