EDPR to bag 628 MW of wind, solar in 1st deal in Chile

Portugal's EDP Renovaveis SA (ELI:EDPR) said today it has signed agreements to acquire a 628-MW wind and solar portfolio in Chile, to mark its entry in the local market.

The deal, valued at a total of USD 38 million (EUR 31.2m), was reached through two separate agreements with Atacama Energy Holdings SpA and Lader Energy Chile SpA.

The portfolio consists of a 77-MW wind farm project and 551 MW of projects under development, including two for wind farms totaling 297 MW and one for a solar farm with 254 MW of AC power.

The 77-MW wind project comes with a secured 20-year power purchase agreement (PPA) and will start operation in 2023.

The projects in the bundle will be offered in the upcoming regulated Chilean tenders and placed on the domestic private PPA market. The new owner will aim to have them in operation by 2025.

The transaction for the 77-MW wind farm purchase is still subject to regulatory approval and other customary closing conditions, while the acquisition of the 551-MW package was completed simultaneously with the signing of the agreements, EDPR said.

Before arriving in Chile, EDPR accumulated capacity elsewhere in Latin America. The renewables company has 0.4 GW of operating capacity and 1.1 GW of secured capacity in Brazil, and 0.5 GW of secured capacity in Colombia.

(USD 1.0 = EUR 0.820)

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