Granja project, developed, built and operated by Solarpack, began injecting energy into the Chilean national electricity system on March 2. This represents a very important milestone for the Company, which generates energy in Chile through an operating fleet that totals 181 MW.

Located in Pozo Almonte, in the Tarapacá Region, in the middle of the Atacama Desert, this project has an installed capacity of 123 MW and represents an investment of more than US$ 110 million. The project has long-term non-recourse financing granted by KfW Ipex-Bank for up to US $ 91 million.

Granja will sell its energy to Chilean power distributors through long-term sales contracts (PPAs), signed after being awarded in the 2015/01 electricity supply tender held in the country with the most competitive price offered by a solar photovoltaic project until the date, contributing to the reduction of the energy supply price of Chilean households. The project has been connected 10 months in advance of the date of commencement of the PPAs, which will begin on January 1, 2021.

Granja is one of the first solar PV projects of those awarded in the 2015/01 tender that has begun to inject energy into the national electricity system.

Pablo Burgos, Solarpack’s CEO, stressed that “it is a very important milestone for Solarpack that constitutes a significant leap in the number of MW in operation that the company has in Chile. Almost 12 years after starting our activity in the country, Chile continues to be a fundamental market for Solarpack. Our commitment to the development of solar photovoltaic technology in Chile remains firm and is shown not only through significant investments in generation assets like Granja, but also through our intense project development activity as the engine of our future growth in this market. Granja is one of the most efficient and competitive solar PV plants on the planet and will generate more than 340 GWh of clean electricity every year, contributing to the decarbonization of Chile's energy matrix.”