Enel Green Power has begun construction of the new Finis Terrae solar photovoltaic power plant in Chile. With a total installed capacity of 160MW, Finis Terrae, once completed, will be the largest solar photovoltaic park in Chile.
The facility is located in the Antofagasta region and is owned by five special purpose companies controlled by Enel Green Power Chile Ltda. Once fully operational, it will be able to generate more than 400GWh per year, equivalent to the annual electricity consumption needs of nearly 198,000 Chilean households, and will avoid the annual emission of more than 198,000 tonnes of CO2 into the atmosphere.
EGP will be investing a total of approximately 270 million US dollars in the construction of the plant in line with the growth targets set out in EGP's current business plan. The Group is financing the project with its own resources. The project is supported by a long-term power purchase agreement (PPA) with Empresa Nacional de Electricidad SA (Endesa Chile). The energy generated by Finis Terrae, which is expected to enter into service by the first half of 2016, will be delivered to the transmission network of Chile's northern region, SING (Sistema Interconectado del Norte Grande).