California-based Pattern Energy Group LP says its Conejo Solar photovoltaic power project in Chile has secured a 22-year power purchase agreement (PPA) with Minera Los Pelambres, an affiliate of Antofagasta Minerals SA.
The 104 MW Conejo Solar project will be constructed on public land near Taltal in Chile's Atacama Desert under a long-term concession. The PPA covers 70% of the project's output over the term of the agreement. A third party has an option to buy a 30% stake in the project.
Conejo Solar will connect to the Sistema Interconectado Central's 220 kV transmission system. The project, which has begun initial construction work, is ready for construction financing. Pattern Energy anticipates financial closing by the end of this year or in early 2015.
Pattern Development has an existing relationship with Minera Los Pelambres, which has a long-term agreement to purchase power produced by the El Arrayan Wind facility. Antofagasta Minerals owns a minority interest in the El Arrayan Wind facility.
