Solar Power Chile: SunPower, Total & Others’ New Mega-Project

Solar power Chile: Earlier this week, TOTAL S.A. (ADR) (NYSE:TOT), Etrion SA (TSE:ETX) and Solventus Energias Renovables announced in Geneva, Switzerland, that they will begin to build the world’s largest merchant solar plant in Chile. The companies will participate in the project with 70%, 20% and 10% respectively. This solar plant, called “Projecto Salvador”, will cost US$ 200 million and be financed by funds of Overseas Private Investment Corporation.

SunPower Corporation (NASDAQ:SPWR)

As an affiliate of Total, SunPower Corporation (NASDAQ:SPWR) will take part in this megaproject at the Atacama Desert in Chile, building and operating a 70 MGp solar power plant.  Projecto Salvador pretends to be a milestone in solar energy production in the nearest future, offering a clean and reliable solution to support electricity demands in different regions across the world.

According to Philippe Boisseau, Total’s Executive Committee member, “Project Salvador is an important step in the process of transforming the capabilities of solar power in the world. This merchant project confirms that solar energy is becoming competitive with other conventional energy sources.”

SunPower will participate directly in the project installing their “Sun Power Oasis Power Blocks system”, a kind of photovoltaic technology. It will use solar panels and single-axis tracker technology developed by the company, which has already proved its efficiency at other projects.

With the construction of this solar power plant, the Total S.A conglomerate, through its subsidiary SunPower, shows that is engaged with non-conventional solutions to improve energy production. At the same time, the firm demonstrates its capability of getting involved in megaprojects worldwide. This could increase revenues for the company and consolidate the price of SunPower’s stock in the nearest future. If we consider official information from SunPower’s website, activities at Projecto Salvador will begin in early 2014 and are expected to be finished in late 2015. This record-time construction could set industry standards for similar projects around the world in the years to come. 

Disclosure: Saul Rodriguez holds no position in any of the mentioned stocks.

Recommended Reading:

SunPower Corporation (SPWR), First Solar, Inc. (FSLR): SolarCity Corp (SCTY) and Its Future Potential

Foreign Oil Updates: Royal Dutch Shell plc (ADR) (RDS.A)’s Settlement Offer, TOTAL S.A. (ADR) (TOT) on CNH Market, Petroleo Brasileiro Petrobras SA (ADR) (PBR) & Gasoline Prices

SolarCity Corp (SCTY)’s Price Target, First Solar, Inc. (FSLR) & SunPower Corporation (SPWR)’s Highest Price

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!