Grenergy announced Monday to the Mercado Alternativo Bursátil (MAB), a sub-market of Bolsas y Mercados Españoles, the Spanish company that deals with the organizational aspects of the Spanish stock exchanges and financial markets, that it will build and sell four PV power plants in Chile to CarbonFree, a Canadian company with several assets of this type in the Chilean market. These operations will involve a total investment in Capex of $33 million.
The four projects, located 150 km southwest of Santiago, in the regions of Maule and O’Higgins, will have an installed capacity of 30.6 MW.
Grenergy plans to start the construction of these four plants in the first quarter of 2019. The electricity generated by all of them will be supplied to the Chilean grid under the PMGD project regulation, commercializing the energy in the system at a stabilized price.
The Spanish company adds these plants to its portfolio of projects in the Andean country, where it currently has 20 plants connected and seven under construction, out of a total 38 projects whose sale has been agreed with different investors. Recently it agreed with Sonnedix the construction of two solar plants under the PMGD regime in Chile with a power of 18 MW and a total investment of $17.5 million. Another agreement was signed with South Korea’s Daelim for the sale and construction of twelve PMGD solar plants with a capacity of 125 MW and a total investment $142 million.
CarbonFree is a company that develops, finances and operates PMGD solar projects in Chile. The company is backed by Connor, Clark & Lunn Infrastructure, the infrastructure arm of a leading Canadian asset management company. Its subsidiaries collectively manage more than 76,000 million Canadian dollars (about 50,300 million euros) in assets, including several utility-scale solar and hydroelectric projects. CarbonFree Technology Inc. has developed more than 400 MW of solar projects already in operation in Canada, the United States and Chile.