SunPower And LAP Negotiate PPAs With Metro de Santiago For USD500 million - Energy and Natural Resources - Chile Law Articles in English - Mondaq Business Briefing - Books and Journals - VLEX 653205277

SunPower And LAP Negotiate PPAs With Metro de Santiago For USD500 million

Author:Latin Lawyer
Profession:Carey
 
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Chilean firm Cariola, Díez, Pérez-Cotapos & Cía Ltda has helped underground railway network Metro de Santiago agree US$500 million worth of power purchase agreements (PPAs) with solar energy provider SunPower and a subsidiary of Latin American Power (LAP), paving the way for it to become the first metro system in the world to run predominantly on renewable energy sources.

Under the PPAs, SunPower, which is controlled by French oil company Total, and LAP's San Juan will supply 60 per cent of the transport system's energy demands. SunPower hired Chile's Carey and the New York office of White & Case LLP. Carey also advised San Juan.

San Juan will supply power from a 185-megawatt wind farm it runs in northern Chile, while SunPower will draw energy from a 100-megawatt solar plant it is building, also in the north. The El Pelícano Solar Project will go live by the end of 2017. Both projects will start supplying the metro with energy in 2018, for a 15-year term.

The PPA between Metro and San Juan was signed on 23 May, while SunPower's contract was agreed...

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