Independent solar power producer (IPP) Sonnedix has acquired a 160MW solar photovoltaic (PV) project in Chile from Andes Solar, a renewable energy developer and constructor.
The Sonnedix Andino Occidente I project is located in Las Cabras, O’Higgins, and currently in the development stage.
Sonnedix CEO Axel Thiemann said: “This transaction highlights our position as a long-term solar company and social citizen, in line with our growth strategy in Chile and other OECD markets around the world.
“It also demonstrates our commitment to helping Chile achieve its renewable energy targets, as we continue to actively seek new opportunities to develop, own and operate solar PV assets in the country.”
According to the deal, the two companies have agreed to co-develop the solar PV plant.
The construction works on the solar power facility are expected to begin in the fourth quarter of 2023. It will become the third-largest solar PV plant of Sonnedix.
Upon completion, Sonnedix Andino Occidente I is expected to generate nearly 337GWh of clean energy a year while offsetting 140,000mt of carbon emissions.
Andes Solar general manager and CEO Martín Valenzuela said: “We are pleased with this first agreement with SONNEDIX. It allows us to continue contributing to the decarbonisation of Chile and strengthens our Utility Project Development line of business that we have been working on.
“The Andino Occidente I project is one of 5 projects in the central region of Chile completing more than 1GW developed by Andes in the area.”
For this deal, Sonnedix and Andes Solar were respectively advised by Gerrero Olivos and MWLAV Abogados. Financial details of the deal have not been revealed.