Rame Energy to Build 130 Megawatts of Renewable Energy in Chile

(Bloomberg) — Rame Energy Plc, a U.K.-based energy
developer, is planning to build 130 megawatts of wind and solar
projects in Chile over the next 18 months.

The projects will require about $300 million in investment,
some of which will come from Banco Santander SA, Rame’s Chief
Financial Officer Kevin McNair said in an interview Monday. The
developer is also pursuing other funding sources.

“We are looking to become an independent power producer in
Chile,” McNair said. “We have measured more than 30 sites for
wind and solar projects and the country has a fundamental energy
shortfall.” Chile imports 60 percent of the energy it consumes,
according to Energy Ministry data from 2012, the most recent
available.

Rame, based in Plymouth, U.K., expects to complete this
year 40 megawatts of wind and solar projects, which will require
as much as $110 million in financing. The company is seeking to
develop a portfolio of 300 megawatts of power projects in Latin
America, according to filings when it went public in April.

Rame’s Beco Energy Solutions unit said last week it had
completed its first solar power plant in Santiago. The 25-kilowatt rooftop solar plant will supply energy for a school,
under a 15 year power purchase agreement.

To contact the reporter on this story:
Vanessa Dezem in Sao Paulo at
vdezem@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Robin Saponar

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