The two plants at a total expenditure of $165m will be the first large-scale solar photovoltaic energy projects in Latin America, the company said.
Around 113,600 thin-film amorphous hydrogenated-silicon modules produced by T-Solar’s Orense, Spain factory will be spread in the Arequipa region in southern Peru.
T-Solar parent company, Isolux Corsán, has been appointed as EPC contractor and will carry out construction works.
The two solar plants are expected to produce 80GWh every year, enough electricity to supply 80,000 people.
The plants are expected to be connected to the national grid by the second semester of 2012.
The Overseas Private Investment Corporation, a US government agency, will provide up to $131m in senior debt, partially guaranteed by Assured Guarantee, a US credit insurance company.
In addition, the Netherlands FMO and France-based PROPARCO will lend up to $14.3m in mezzanine debt and T-Solar will fund the balance through equity.
T-Solar has more than 230MW under operation or construction in Spain, Italy, India and Peru.
