Zelestra has secured a $282 million (£209m) financing package for a solar and battery storage hybrid facility in Chile.
The Aurora plant, which consists of 220MW of solar and 1GWh of battery storage capacity, is backed by financing from Natixis CIB, BNP Paribas and BCI.
When complete, it will generate around 600GWh of renewable power per year – equivalent to the annual consumption of 200,000 households in Chile.
The project, supported by assurance provider DNV, will contribute to the country’s decarbonisation plans – Chine is already said to be generating nearly 70% of its electricity from renewables.
Leo Moreno, CEO of Zelestra, said: “Aurora is landmark transaction for Zelestra and reinforces the financial community’s confidence in our customer-first strategy to develop multi-technology solutions that deliver for our clients.
“This is a very ambitious project that includes one the largest battery storage projects in Latin America. With construction already underway, we are now focused on delivering the project on-time and on-budget.”
Zelestra has a portfolio of approximately 29GW of carbon-free projects in 13 countries.
