OPIC approves $123 million for pair of 20MW PV power plants to be built by T-Solar in Peru
Jul 20, 2011 - Tom Cheyney - pv-tech.org
The project, located on two separate sites in the rural Arequipa region in southwestern Peru, will sell all the electricity it produces to the national grid and thereby support the country’s effort to diversify its sources of electricity generation. The project companies were awarded 20-year power purchase agreements by Peru’s Ministry of Energy and Mines.
The U.S. sponsor of the project is Assured Guaranty Municipal Corp., a New York-based public finance and global infrastructure subsidiary of Assured Guaranty Ltd. The project is Assured Guaranty’s first transaction in the solar sector, and materialized due to OPIC’s participation. Assured Guaranty Municipal is expected, subject to closing conditions including internal credit approval, to provide a partial risk guaranty for the project.
The timeline for development, construction, and completion of the project has not been disclosed.