FP017

The Climate Action and Solar Energy Development Programme in Chile's Tarapacá Region successfully developed a 150 MW solar park in the Atacama Desert, achieving commercial operation in June 2021. The project demonstrated significant paradigm shift potential, contributing to Chile's renewable energy transition and exceeding the national 2025 target of 20% renewable electricity generation by 2020.

Key lessons learned include the importance of considering extreme climate variability even in stable climates, signing GCF agreements before loan agreements to ensure proper requirement flow-down, and selecting high-quality contractors for pandemic resilience. The project achieved notable social outcomes, employing women at 20% of the workforce—far above the national sector average of 1.6%. Gender mainstreaming challenges highlighted the need for early communication of GCF requirements to accredited entities. The project's financial sustainability remains strong with debt service coverage ratios exceeding contractual requirements, validating the financing structure's resilience against market risks.

Project completion summary for FP017: Climate action and solar energy development programme in the Tarapacá Region in Chile

12 Aug 2025

This Project Completion Summary (PCS), contains details from the Project Completion Report (PCR) submitted by Accredited Entities at the end of a project’s implementation timeframe. The PCS presents a concise overview of a completed project's performance and delivered outcomes. The summary includes four key components: