This investment seeks the promotion of PV power plant projects in sustainable markets with world class solar resources.
First Solar, one of the largest PV solar system providers in the world, acquired 100% of Solar Chile, a Santiago-based company owned by FCh, with the purpose of advancing solar projects.
Solar Chile has a large-scale PV power portfolio with early and medium stages of development, for a total of 1.5 GigaWatts (GW) located in the I, II, III and XV Regions of Chile, including the Atacama Desert Region (which has the highest solar radiation in the world).
First Solar is promoting several initiatives worldwide. The company already has contracts to develop a total of 3 thousand MW, of which 2 thousand MW are under construction in Asia, Europe, Australia and the United States. Also, it is already planning to expand to countries like Brazil and Mexico and Perú.
This acquisition concludes a strategic working alliance existing between the two companies that began in October 2011. Solar Chile’s team will join the US subsidiary of First Solar, and Fundación Chile will continue to providing consulting services.