Czech Solek secures CZK 1.65 billion from US company to develop power plants in Chile

Czech energy group Solek has secured a further CZK 1.65 billion from US investment company BlackRock to develop its solar energy business in Chile. The company plans to use the funds to further expand its portfolio of solar power plants in Latin America. Solek informed the Czech News Agency (ČTK) today. In May, the company announced that it had secured USD 379 million (CZK 8.4 billion) in financing for power plants in Chile. At the time, it raised a large part of the funds by issuing bonds in the US.

Solek owns power plants in Chile with a capacity of approximately 286 megawatts (MW), and has more than 400 MW of additional projects in Latin America in preparation.

“This transaction represents another strategic step for Solek, enabling us to continue developing our portfolio of solar power plants in Chile and fully capitalise on opportunities in Latin America’s renewable energy market,” said Solek Group founder and CEO Zdeněk Sobotka.