Energy infrastructure developer EnfraGen has signed EPC contracts with Verano Energy for the construction of eight solar photovoltaic projects in Chile.
The projects will have a total installed capacity of 76 MWdc (59 MWac) and will be added to EnfraGen’s existing value-added renewable power business division, Fontus Renewables. When completed, EnfraGen says its solar portfolio will total 246 MWdc (185 MWac).
The eight projects are currently not owned by EnfraGen’s existing senior credit group.
“We are excited to partner with Verano Energy and move forward with these new eight projects," Brendan Wolters, Head of Solar for Fontus, said. "EnfraGen is focused on contributing to and advancing Chile’s leadership role in the energy transition through renewable power growth and grid stability. These projects exemplify EnfraGen’s mission.”
EnfraGen, which is owned by private equity firm Partners Group and Glenfarne Energy Transition, notes that it has already provided Verano with a notice to start with the construction process of the solar plants.
All projects will qualify for stabilized price regime under Chile’s PMG/PMGD program.
Chile imports close to 70 percent of its primary energy supplies, due to limited domestic resources, according to government figures. The nation hopes to produce more than 10 percent of its electricity by on-site renewable resources, such as solar, wind and geothermal, within the next few years.
EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin America. It has operational and in-construction assets across its subsidiaries totaling nearly 1.9 GW of installed capacity.
Verano Energy was founded in 2012 to address the need of early stage investment and development of renewable energy projects in Latin America.