Spanish energy and construction firm Abengoa has restarted work on the stalled Atacama 1 PV-CSP solar energy complex in northern Chile’s Antofagasta region (II).
After reaching a debt restructuring agreement with lenders in order to avoid bankruptcy in August, Abengoa in October struck a deal to transfer ownership of Atacama 1 – which will require US$1.8bn of investment according to BNamericas’ records – to EIG Global Energy Partners.
Abengoa remains in charge of EPC works on the project, which entails a 100MW PV plant and a 110MW concentrated solar plant. By combining the two technologies, Atacama 1 will inject clean energy around the clock into Chile’s northern SING power grid, where mining companies account for 90% of demand.
The PV plant is expected to enter operation in the second quarter of 2017, Abengoa said in a statement, without providing a startup date for the CSP plant.
Abengoa will also provide operations and maintenance services for the project once it is complete.
As part of its restructuring plan, Abengoa has pledged to focus on engineering and construction in order to reduce its capital-intensive participation in projects of this nature.