The Central Bank of Bolivia (BCB) has agreed to provide a 654 million boliviano (US$95 million) loan for the 60 MW Uyuni PV project, according to a press release from the nation’s Ministry of Hydrocarbons and Energy.
The BCB, the Ministry of Hydrocarbons and Bolivia’s National Electricity Company (ENDE) have signed a financing agreement for this solar project and a 5 MW geothermal plant.
According to the press release, the development timeframe for the solar project is estimated at 12 months. The plant will be built in the Department of Potosí.
The plant will be built on 180 hectares of land, and will comprise more than 200,000 PV modules. According to BCB, the loan granted for the solar and geothermal projects is for a period of 30 years, at a 1.31% annual interest rate.
In March, ENDE subsidiary Guaracachi announced a resolution for a bidding process to procure a builder for the Uyuni solar project.
The Uyuni project is the largest PV project which has reached this stage to date in Bolivia, where the construction of various solar plants are planned in the short- and medium-term.
One month ago, ENDE opened a call for an auction for “turnkey construction” of a 50 MW PV project in the Oruro Department. This project will be financed by the French Development Agency.
Meanwhile, in mid-April the Ministry of Hydrocarbons announced that it had secured 65 million bolivianos (US$9.4 million) in financing with Bolivia’s Central Bank for a 5 MW PV project in the Department of Tarija.
In Bolivia only one PV plant has been built to date, a 5 MW PV project in the Pando Department. This project is connected to a microgrid.