Oct. 29 (Bloomberg) — SunEdison Inc., the best-performing
solar company this year, arranged a $130 million loan to develop
a power plant in Chile.
Corpbanca SA and Banco Bilbao Vizcaya Argentaria SA are
providing non-recourse debt for the 69.5-megawatt Javiera solar
farm, St. Peters, Missouri-based SunEdison said today in a
statement. The lenders also will provide a local Chilean peso
VAT facility worth $30 million.
SunEdison’s TerraForm Power Inc. unit plans to acquire the
power plant when it’s connected to the grid in the first quarter
of next year. Minera Los Pelambres, a unit of Antofagasta
Minerals SA, has agreed to buy electricity from the solar farm
under a 20-year contract.
SunEdison has gained about 45 percent this year, leading
the 21-member Bloomberg Intelligence Global Large Solar index.
To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net
To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Randall Hackley