Daelim Energy said on Dec. 3 that it acquired the right for a solar power project in Chile from Grenergy, a Spanish energy firm.
Total project cost is about $180 million (about 200 billion won). It is planning to invest about $50 million (about 57 billion won) directly and procure the rest through project financing.
The project will operate a total of 105MW solar power plants and will build 12 solar power plants with a 9MW or lower level in northern and central Chile. Starting with two businesses this year, it is going to start construction sequentially and start commercial operations in March 2019. All 12 projects will be completed by March 2020. Daelim Energy will operate for 25 years after commercial operation to secure profits.
Daelim Energy has engaged in various power projects around the world. Chile is the fifth country to enter the world after Australia, Pakistan, Bangladesh and Jordan.
President Kim Sang-woo of Daelim Energy said, "Chile is a promising market as its competitive edge in solar power will surpass that of coal power generation. This project is Daelim Energy's first overseas solar energy investment project and will expand its development in Latin American markets on the occasion of its investment in Chile.”