Pattern Energy Group LP (Pattern Development) has completed approximately $205 million in project financing on the 122 MW Conejo Solar photovoltaic power project in Chile.
Construction has now begun on the project, which is being built 30 km east of Taltal in Chile's Atacama Desert. Pattern Development expects the project to be completed in summer 2016.
Conejo Solar has a 22-year power purchase agreement with Minera Los Pelambres, an affiliate of Antofagasta Minerals, for approximately 65% of the system's output. The project will connect to the Sistema Interconectado Central transmission system and is located on public lands owned by the government of Chile under a long-term concession.
Pattern Development's affiliate company Pattern Energy Group Inc. has previously added the Conejo Solar project to its identified right of first offer list.