EDF backs Chile renewables plan with peak-demand purchase

The Bolero solar park. Photo by: EDF Energies Nouvelles (www.edf-energies-nouvelles.co).

May 11 (Renewables Now) - French electric utility Electricite de France SA (EPA:EDF) has acquired gas and peak-demand capacity in Chile so it could develop more renewable energy projects in the country, it said today.

Specifically, EDF and local joint venture partner AME have finalised an agreement to acquire a total of 750 MW of flexible generation capacity from AES Gener. This includes the 379-MW Nueva Renca natural-gas combined-cycle power plant and the 132-MW Los Vientos, 139-MW Santa Lidia and 100-MW Renca peak-demand combustion turbines.

EDF explained that the newly-purchased assets will compensate for fluctuations in wind and solar output.

"With this acquisition, the EDF Group is consolidating its position in Chile and is acquiring flexible assets in order to deliver on the expansion of its solar business, which it has already embarked upon with its partner AME,” said Marianne Laigneau, group executive vice-president in charge of the International Division.

At present, the EDF group owns the 146-MWp Bolero solar plant, the 115-MW Cabo Leones wind farm and the 115-MWp Santiago Solar park in Chile, in partnerships with three different companies.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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