oEnergy is specialised in the development, construction, operation, maintenance, and exploitation of electricity generation projects based on non-conventional renewable energies, including all associated infrastructure and facilities. The entire amount of USD 88 million, of which USD 58.4 million is senior debt, USD 8.63 million sub-debt and USD 21.7 million equity.
The project involves the financing of up to 23 small-scale PV stations located throughout Chile, most of them with a capacity of up to 3 MW. This energy will be sold directly to the Chilean electricity transmission/distribution grid under Chile’s national PMGD (a Spanish acronym for Small Means of Distributed Generation) program that promotes the small-scale production of renewable energy through the establishment of a stabilised energy pricingframework.
Chile has a stable and well-regarded energy market, that has the appropriate legislative and regulatory frameworks to promote the sustainable development of renewable energy sources. Demand for (clean) electricity remains very strong, also because of the ongoing decarbonisation in the country – already 40% of the energy comes from the green sources. The energy generated by PMGDs is highly sought after on a local level, as it is being directly injected into the grid near the point of use, bypassing the risks of grid congestion and different prices at different nodes on a national transmission level.
Fund manager Willy Bulsink: “The project obviously fits the impact goals of both Triodos funds, increasing the production capacity of renewable energy, while improving access to clean and affordable energy. What we also like about it are the Community Development Program and the Gender Diversity Plan that will be implemented. Therefore, the project contributes substantially to the UN Sustainable Development Goals.”