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SUNPOWER CORPORATION (SPWR)
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SunPower : commissions 100 MW solar park in Chile

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01/13/2018 | 03:40pm CEST

The facility, which is located in the region of Coquimbo, will sell power to the Metro of the countrys capital city, Santiago under a long-term PPA.

The President of the Republic of Chile, Michelle Bachelet, has officially inaugurated the El Pelcano solar power plant, which will supply electricity to Metro de Santiago.

The solar park, which is owned by the U.S. PV module manufacturer, SunPower, a subsidiary of French oil company Total, has a capacity of 100 MW and is located on an area of 186 hectares in La Higuera, the Chilean region of Coquimbo.

The facility will supply the Metro of the countrys capital city, Santiago de Chile with power and will cover 42% of the electricity consumption of this transport infrastructure.

The annual generation of electricity that the plant will supply to the Metro through a long-term PPA is estimated at around 300 GWh per year. The Santiago Metro will thus be the first in the world to operate with 60% of energy from solar and wind power. No other metro has incorporated such a magnitude of unconventional renewable energy in its consumption, said President Bachelet at the plants opening ceremony.

Transelec, the main Chilean electric transmission company, acquired the Don Hector substation, which is located near the solar park, from SunPower for an amount of 17.8 million in September. According to the U.S. company, the substation has an additional capacity that can allow for the realization of other large-scale solar projects in the region.

The projects required investment is approximately $250 million.

(c) 2018 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 1 988 M
EBIT 2018 -205 M
Net income 2018 -812 M
Debt 2018 834 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 0,88x
EV / Sales 2019 0,77x
Capitalization 921 M
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Number of Analysts 12
Average target price 8,71 $
Spread / Average Target 33%
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Thomas H. Werner Chairman, President & Chief Executive Officer
William P. Mulligan Executive Vice President-Global Operations
Manavendra Sial Chief Financial Officer
Patrick H. Wood Lead Independent Director
Thomas R. McDaniel Independent Director
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