Etrion and Total start solar power plant in Chile

27. September, 2013 News No comments
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Yesterday, on 26th of September Total together with Etrion announced starting Salvador Project in Atacama region in Chile.

Both companies, together, are focusing on building a 70 megawatt-peak photovoltaic power plant. 70% interests of this project belong to Etrion, 20% to Total and 10% to Solventus. Total cost of the venture is  $200 million, financed in 30% by Etrion and Total. 70% of the costs will be paid by non-recourse debt from the Overseas Private Investment Corporation (the US Government’s development finance institution) with a 19,5 year tenor.

Furthermore, Salvador Project will be built by SunPower Corporation. This world leader in solar power was founded in 1985 in the USA. It has been in 66% possession by French Total since 2011.

Philippe Boisseau, Member of the Executive Commitee of Total said: “Solar power is a compelling proposition in Chile due to the amount of solar irradiation received every day in the region. Combined with Chile’s high electricity prices, large energy demand and low construction costs, solar can compete with traditional sources of electricity in Chile without government subsidies. As a world leader in the solar industry, we are proud to launch with our partners the largest solar merchant project in the world, and we are pleased to assist Chile in the diversification of its energy mix. We look forward to further developing our solar activities in the country.”

Salvador Project is the second one by Etrion in Chile. The first one rests on building a 8.8 MW solar power plant and providing energy to the iodine mine in Aguas Blancas. The Geneva -based company has also some interests in Italy and is owned in about 25% by Lundin family. The Swedes own also 31% of Lundin Petroleum company.

Total press release about the Salvador Project

Photos: southeasternsolarenergy.co, wikimedia

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Jan Wypijewski

Deputy Editor-in-Chief of YoungPetro, in pursuit of his B.Sc. degree in Oil&Gas Engineering at AGH University of Science and Technology in Krakow.

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