Solarpack sells four solar power plants to CVE Chile for $45 million

Solarpack sells four solar power plants to CVE Chile for $45 million

Solarpack and CVE Chile have signed a purchase agreement under which the Basque company sold four solar plants still under development to CVE Chile – a Chilean subsidiary of Grupo CVE – for $45 million. The sites have an added generation capacity of 9 MW and are located in the country’s Regions I, VI, and VII.

In a press release published on the company’s website, Solarpack details that the plans are being built under the PMGD scheme (from its acronym in Spanish, Pequeños Medios de Generación Distribuida) to encourage the development of small (sub-9 MWac) power generation plants.

CVE Chile CEO Pierre Boulestreau indicated that this move accelerates the company’s development in Chile and consolidates its leadership in the country's PMGD market.

“In the coming years, we plan to keep a steady pace of development of around 40 MWp per year, reaching a renewable generating capacity of 220 MWp by 2022,” Boulestreau announced.

Chile appreciates the importance of decentralized renewable energy sources and, in particular, their role in reducing the environmental impact and infrastructure costs involved in transporting power.

In this sense, CVE Chile is strengthening its position as a producer of decentralized renewables in Chile, meaning that this energy is produced close to the site of consumption.

Solarpack and CVE Chile sign new deal

The 4 newly acquired projects are ground mounted solar power plants with a generating capacity of 9 MWp located in San Clemente and Linares (VII region), near Rancagua (VI region), and in the North of Chile near Pozo Almonte (I region). These projects are to be commissioned in 2019.

Pablo Burgos, Solarpack’s CEO, said that Solarpack has been working in Chile for 10 years. The company became the pioneer of utility scale solar PV in the region and introduced a technology that has since then transformed the country’s electricity market.

“Ten years later, we remain committed to the country with our 58.1 MWp in operation, and to delivering best-in-class solar energy solutions for our customers. We are delighted to have reached this agreement with Cap Vert Energie, under which we will start executing for them a series of solar PV projects totaling 44.7 MW DC in the next few weeks.”

The companies are growing in the renewable market

Solarpack has six solar PV plants operating in Chile: Calama Solar 3, which was the first industrial-scale solar plant in South America, with a total installed capacity of 1.1 MWp; Pozo Almonte Solar 2 (8.1 MWp) and Pozo Almonte Solar 3 (17.3 MWp), which produce 13 percent of the energy consumed by the Doña Inés de Collahuasi mining company; Pozo Almonte Solar 1, which boasts 10.5 MWp; and two 10.5 MWp plants (Calama Solar 1 and Puerto Seco Solar) located in Calama, within the Atacama Desert. Besides, Solarpack has recently built and sold a 9.4 MWp plant located in Diego de Almagro.

CVE Chile’s strategy is in line with the CVE group’s vision of the renewable energy market, based on the decentralization of production and a direct energy sales model through private contracts, in response to the needs of businesses and local authorities.

After a four-year period of selling electricity via a stabilized pricing mechanism, CVE Chile will be able to sell its renewable energy directly to industrial companies in the Santiago region through private purchase agreements (PPA) or long-term energy purchase agreements.

Solarpack has commissioned over 250 MW

Basque company Solarpack works in “development, financing, construction, operation, and management of solar photovoltaic projects.”

The company, which has over 129 professionals distributed across 10 nations, has developed 529 MWp around the world, and has built fourteen EPC projects that amount to 190 MWP.

Currently, Solarpack has commissioned over 250 MW in several countries like Spain, Chile, Peru, and India; The company is also in charge of operation and maintenance of thirteen plants with an added capacity of 160 MWp. Furthermore, Solarpack also manages customer facilities that add an additional 330MW.

For more related information, check Energía16

See also: Equinor to further focus its offshore portfolio

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