Goldbeck Solar to construct four solar plants in Canada and Chile with €44 million loan
Summary
German energy company Goldbeck Solar has secured a loan of 44 million (US$47.8 million) to fund four new solar PV plants, with a combined capacity of 93MWp, in Canada and Chile.French investment group RGreen Invest will provide the loan, under its short-term debt fund Infrabridge III, for the new projects. Meanwhile, the Canadian projects will sell their power under the more volatile merchant framework, and successfully navigating these different frameworks will be vital for the joint venture partners.We are thrilled to partner with RGreen Invest, a prominent player in the renewable energy finance sector, said Olga Kovalchuk, head of finance and investment at Goldbeck Solar, drawing attention to the collaborative nature of these projects. Between 2014 and 2020, Canadas usage of solar power increased from 0.14% of its energy mix to 0.29%, much smaller totals than wind and hydropower, but the overall direction of the trend is encouraging.Meanwhile in Chile, over the same period the percentage of renewables in Chiles energy mix increased from 3% to 25%. While the countrys energy mix continues to be dominated by oil, the government is taking steps to encourage more renewable power generation. This week, the Chilean ministry of energy announced that 40 new PV projects will be funded through the Ponle Energ\xeda a tu Empresa project, as part of a CLP2.3 billion (US$2.9 million) investment.The news follows Goldbecks commencement of operations at its D\xf6llen solar park, a 154.7MW solar facility in Germany, another joint venture, this one alongside the CEE Group.