Blue Elephant Energy buys 120 MW of DG solar in Chile

German solar and wind farm operator Blue Elephant Energy GmbH (BEE) has acquired a 120-MW portfolio of solar distributed generation (DG) assets in Chile for an undisclosed sum, expanding its portfolio in the country to 281 MW.

The Hamburg-based firm said on Thursday it bought the portfolio from Chilean developer Fondo de Inversion Rockville Solar Energy (Rockville) in early May this year. It said it had executed the transaction together with its local partner oEnergy Capital SpA, part of Chilean distributed energy resources specialist oEnergy.

"After two successful transactions with oEnergy, we are pleased to further expand our partnership in Chile. oEnergy will support us in the project not only as an investment partner but also operationally,” said Alexander Kolb, Investment Director of Blue Elephant Energy GmbH and leader of the deal team.

The acquired package contains 20 assets, mostly solar farms already in operation. The projects that are currently under construction will be commissioned next year.

The portfolio benefits from the stabilised price regime for DG systems, known in Chile as the PMG(D) regulation.

“With the acquisition of the portfolio, we can secure one of the largest PMGD portfolios in the Chilean market,” Kolb added.

Following the Chilean transaction, BEE’s global portfolio will grow to 1,513 MW of wind and solar in eight countries, the company said.

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