Nala Renewables buys solar PMGD project portfolio in Chile

Global renewable energy investment platform Nala Renewables said on Thursday that it has signed an agreement to acquire 13 solar PV projects in Chile from Czech solar energy developer Solek Holding SE.

The portfolio consists of projects that are currently under development and construction, and should have a maximum power output of up to 150 MW once up and running. The solar farms will be fully operational over the next two years, and collect stable remuneration under Chile’s PMGD regime for distributed generation projects, Nala Renewables said.

Nala Renewables Chile SpA will be the majority owner of the portfolio, alongside minority investors financial services firm Moonvalley Capital and Finnish renewables investment company Korkia.

Financial details were not disclosed.

Solek will execute the engineering, procurement and construction contracts (EPC) and operation and maintenance contracts (O&M) for the projects, it was stated.

Nala Renewables is seeking to build a global portfolio of renewable energy projects totalling 4 GW by 2025, including plants in operation, under construction and late-stage development, CEO Jasandra Nyker said.

Nala Renewables is a joint venture between Singapore-based commodities trader Trafigura Group Pte Ltd and global investment management firm IFM Investors.

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