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Renewables company Eurus Energy America said it has signed a green loan agreement to finance the construction and operation of around 80 MW of solar farms in Chile.

The company, which directs renewable energy development in North America on behalf of Japan’s Eurus Energy Holdings, secured an undisclosed amount to realise several small-scale distributed generation projects, known as PMGD in Chile. The PMGD plants are entitled to a stabilised price regime.

Sumitomo Mitsui Banking Corporation (SMBC) served as the green loan coordinator, while Providence Capital Advisors acted as financial advisor to Eurus.

At present, Eurus owns two operational solar PV farms in Chile. The new portfolio raises the company’s solar capacity in the country to about 100 MW, Eurus said.