Name and Location
Luz del Norte solar photovoltaic (PV) plant project, Chile.

Client
Parque Solar Fotovoltáico Luz del Norte, an indirect subsidiary of First Solar.

Project Description
The project involves the installation of a 141 MW alternating current (ac) solar PV plant in the Atacama desert, in the province of Copiapó.

The solar panels will convert sunlight to direct current (dc) electricity.

The dc power will be sent to an inverter for conversion into ac power, which will be fed into the utility power grid system.

Value
The project is estimated at $366-million.

Duration
Not stated.

Latest Developments
First Solar has received board approval from the Overseas Private Investment Corporation (OPIC), the US government's development finance institution, and the International Finance Corporation (IFC) for financing to support construction of the Luz del Norte solar power plant. The loans enable First Solar to proceed with construction planning at the site.

The OPIC board has approved a loan of up to $230-million, while the IFC board has approved a $60-million loan.

Key Contracts and Suppliers
OPIC and IFC (loan finance).

On Budget and on Time?
Not stated.

Contact Details for Project Information
First Solar, Patricia Pacheco, tel +56 2 2594 7552, fax +56 2 2584 0921 or email patricia.pacheco@firstsolar.com.
IFC, tel +1 202 473 3800 or fax +1 202 974 4384.