French Group EDF and its Chilean partner AME, in their 50% joint venture called Generadora Metropolitana, obtained financing for an amount of 980 million dollars. The proceeds will be used for the construction of the CEME1 solar plant (in Maria Elena, Antofagasta Region) with a capacity of 480 MWp, the conversion to gas of the Los Vientos Power Plant (in Llay Llay, Valparaiso Region) and the refinancing of liabilities, in addition to working capital for the operation and development of other initiatives.

The financing was structured with a combination of bank debt (80%) and bond issuance. The main project on Generadora Metropolitana’s agenda, the solar plant CEME1, would begin construction in late 2021 for commissioning in 2023. CEME1 will become the largest solar plant in Chile.