Denmark’s Investment Fund for Developing Countries (IFU) announced on Friday that it has sold the 45% stake it held in the 34-MW Pampa Elvira Solar thermal plant in Chile to Canada’s Innergex Renewable Energy.

Innergex, which already owned 55% interest in the plant, finalised the acquisition for USD 5.5 million (EUR 5.03m), becoming the sole shareholder. IFU sold its shares on behalf of the Danish Climate Investment Fund (DCIF), it said.

Pampa Elvira Solar is a 44,000-square-metre solar thermal plant located in the Chilean region of Antofagasta. Danish solar thermal specialist Sunmark developed the project alongside Chile’s Energia Llaima, which later became Innergex Chile. The facility was inaugurated in 2013.

The plant supplies solar heat to the Gabriel Mistral Division copper mine in northern Chile. In April this year, the mine’s owner Codelco renewed the heat off-take contract with Innergex.

“With the acquisition of the remaining interest in Pampa Elvira Solar, we continue the expansion of our important green and sustainable portfolio. This operation allows us to consolidate the extension of the contract with Codelco and extend this technology in other mining operations in the country”, commented Jaime Pino, Vice President and General Manager of Innergex Chile.