ReneSola Ltd. will provide 29.1 MW of its multicrystalline solar modules to Singapore-based installer saferay for use in the La Huayca II solar plant located in the Atacama region of Chile.
Under the terms of the agreement, ReneSola will deliver 7.5 MW of solar modules in August and an additional 21.5 MW of modules in January 2014. The project will expand the 1.4 MW La Huayca I plant, completed last year, to 30.5 MW.
‘We're pleased to sign another contract with saferay, for whom we provided modules last year for use in several PV power plants in Germany,’ says ReneSola CEO Xianshou Li. ‘We are also thrilled to supply modules to the Chilean market, one of the few markets that allow PV companies to sell electricity to the local grid at profitable market prices. We will continue to invest in the region to grow our South American business and support the country's growing renewable energy sector.’
ReneSola says the La Huayca project is the first utility-scale PV plant worldwide with no power purchase agreement, government subsidies or feed-in tariff support. Reportedly, it will sell electricity into the spot market just as conventional power plants do.