T-Solar Group Closes Financing For Peruvian PV Plants

The T-Solar Group, a solar photovoltaic power plant developer and operator, has signed three loan agreements for a total of $145 million to finance two photovoltaic power plants with an aggregate capacity of 44 MW in Peru.

The two plants will be the first large-scale solar photovoltaic energy projects in Latin America, according to the company. They will feature 113,600 thin-film amorphous hydrogenated-silicon modules produced by T-Solar's Orense, Spain, factory and will be deployed over 206 hectares of land in the Arequipa region in southern Peru.

Isolux Corsan, T-Solar's parent company, has been retained as engineering, procurement and construction contractor and will carry out the construction work. The two solar plants are expected to produce 80 GWh a year, T-Solar says. The plants are scheduled to be connected to the national grid by the second half of 2012.

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