there is a default risk that the ipp can become insolvent being unable to supply power to the offtaker and repay its debt to the lender mining companies and lenders are therefore more likely to partner with an experienced ipp that has strong ties to the investment community and is able to bring the project to financial closure when looking across the array of current projects table several of them and particularly largescale costly projects involve wellestablished renewable energy developers pwc as an example valhalla a chilean renewable energy startup has faced difficulties in securing usd million financing required for its innovative espejo de tarapaca project in northern chile