Solek Group issues bond to finance 60 MW of PV in Chile

The Czech solar developer intends to issue public bonds worth 500 million CZK ($19.9 million). The company will use the net proceeds to finance part of a 60 MW PV project pipeline in northern Chile.

April 13, 2017 Emiliano Bellini

Solek Group built the Parque Solar CuzCuz 3 MW solar plant in Chile in February.

Solek Group

Czech solar company Solek Group has gained approval from the Czech National Bank to issue public bonds worth 500 million CZK ($19.9 million). The 5-year bond, named SOLEK HO. 6,20/2022, will be issued by the company’s subsidiary Solek Holding SE and will have a fixed interest rate of 6.2% annually with the date of maturity in 2022. The bond issue date is 19^th July and the public offer commenced on 10^th April 2017. Minimum investment amount is 50,000 CZK (around $2,000).

Net proceeds from the bond issuance, the company said, will be used to finance the construction of solar power projects in Chile. “The development of further solar parks of the total installed power capacity 60MWp is now under way in Chile,” said the owner of the company Zdeněk Sobotka.

Solek Solar completed its first PV project in Chile in February. The 3 MW Parque Solar CuzCuz PV plant is connected to the Chilean grid Conafe and is located approximately 300 kilometres in the north of the capital Santiago. Construction on the plant started in the summer of last year. The company submitted its project proposal to local authorities in 2014. The project was built at a cost of around 100 million CZK ($3.98 million). The funding was provided partly by the company Solek Group, and partly by private investors from the Czech Republic.

Solek Solar is currently working on two projects of the same power capacity like Parque Solar CuzCuz and they are solar parks La Fortuna and Amparo del Sol.

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