EDPR sets green foot in Chile
The company has acquired a 628MW solar and wind portfolio
Image: Shutterstock
EDP Renewables (EDPR) has announced its entrance into the Chilean renewable energy market following the acquisition of 628MW of wind and solar.
The firm has bought the portfolio for $38 million (£26.8m) after reaching an agreement with Atacama Energy and Lader Energy.
The portfolio consists of a 77MW wind farm and 551MW of projects under development.
Commercial operations of the projects are expected to start by 2025.
Miguel Stilwell de Andrade, EDPR and EDP Group Chief Executive Officer, said: “We are committed to playing an active role in the energy transition and in the Latin American markets, where Chile offers world-class renewable energy generation potential.”
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Commercial operations at the projects are expected to start between 2023 and 2025, EDPR said.
The portfolio consists of a 77MW wind farm with a 20-year power purchase agreement, expected to come online in 2023, and 551MW in projects under development.
The 551MW includes two wind farms totalling 297MW and one 254MW solar park.
These projects will be actively participating in the upcoming regulated tenders and in the private PPA market in Chile, aiming to enter into operation by 2025.
Completion of the transaction for the 77MW wind farm is subject to regulatory approval and other customary closing conditions.
EDPR and EDP Group chief executive Miguel Stilwell de Andrade said: “We are committed to playing an active role in the energy transition and in the Latin American markets, where Chile offers world class renewable energy generation potential.