Greenwood to Build 80-Megawatt Solar Power Facility in Chile

(Bloomberg) — Libra Group is developing an 80-megawatt
solar project in Chile in partnership with Pacific Solar SA.

Construction on the Inti project in the Antofagasta region
will begin this year and it may be online as early as 2016,
Greenwood Energy, the Americas energy division of the Logothetis
family’s Libra Group, said in a Jan. 9 statement. Power will be
sold on the Chilean spot market.

“Solar plant installation costs are declining in the
country and becoming more cost efficient,” Hernan Farace,
Greenwood’s senior vice president of project finance, said in a
phone interview Wednesday.

Chile is Latin America’s biggest solar market, according to
Bloomberg New Energy Finance.

“What is unique about Chile is that it is the first market
in which solar can compete in the spot market, with no power
purchase agreements,” said Lilian Alves, a Sao Paulo-based
analyst at Bloomberg New Energy Finance.

To contact the reporter on this story:
Vanessa Dezem in Sao Paulo at

To contact the editors responsible for this story:
Reed Landberg at
Tina Davis, Will Wade

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