Akuo and Atlantica Sustainable Infrastructure, two leading renewable energy companies, have announced the closure of financing and the beginning of construction on a portfolio of nine photovoltaic power plants with a total capacity of 80MW in Chile. The projects are located in the Regions of Maule (VII), Ñuble (XVI), Araucanía (IX), and Biobío (VIII), all situated in the southern region of Santiago de Chile.
The portfolio benefits from Chile's PMGD (Pequeños Medios de Generación Distribuida) regime, which aims to incentivize small and medium-sized distributed power generation. Akuo and Atlantica Sustainable Infrastructure are the equity sponsors, while DNB is providing the debt financing. Maire Group, an Italian engineering company, will perform the engineering, procurement, and construction activities on the plants. The firm also acted as a co-developer of the initiatives, through its Integrated E&C Solutions business unit.
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Martin Bocage, Akuo Country Manager for Chile, Argentina, and Uruguay, commented on the project, saying, “Akuo is a committed stakeholder to Chile's energy transition, and we stick to our words. Construction is ongoing, and we will soon inject electricity for the benefit of the citizens. Chile's renewable energy strategy encourages us to continue growing and investing in this country.”
Antonio Merino, VP South America at Atlantica, added, “This investment increases Atlantica's presence in Chile as we continue executing on our growth plan in renewables. The portfolio is fully aligned with our long-term strategy and GHG emissions reduction targets. Chile is one of our core geographies in South America, and we plan to continue devoting time and efforts to close new investments and contribute to the transition of the country towards a clean energy mix.”
The project is expected to bring significant benefits to Chile, including the creation of new jobs, increased access to clean energy, and a reduction in greenhouse gas emissions. As the country works towards a sustainable energy future, initiatives like these play a crucial role in driving the transition towards a more environmentally friendly energy mix.
