July 23, 2013 - Fotowatio Renewable Ventures has been offered a power-purchase accord with Uruguay's state utility to develop a 50-megawatt solar park.

The developer was offered the 30-year deal with Administracion Nacional de Usinas y Transmisiones Electricas, FRV said today in an e-mailed statement. The park will be built in the northern Uruguayan town of Salto next year once permits are secured.

Uruguay began its first tender for large-scale photovoltaic plants on May 27 seeking to support as much as 200 megawatts of projects to diversify its generation. The plants, requiring a total of about $400 million of investment, will be paid $91.5 per megawatt hour generated.

FRV operates plants in Spain and Italy. Denham bought a majority stake in the company in March 2012, agreeing to invest $190 million in solar projects in markets such as Australia, South Africa and Latin America.