Grenergy connects 20.6MW of PV in Chile under the Stabilised Price Regime

Facebook
Twitter
LinkedIn
Reddit
Email
Grenergy claims these are the southernmost large-scale solar plants in the world. Credit: Grenergy

Grenergy has connected solar PV plants with a combined capacity of 20.6MW to the grid in the O’Higgins Region of southern Chile.

Grenergy closed on US$19.2 million of financing last September from two entities, Security and Consorcio. The company claims that the plants are the southernmost utility-scale solar projects in the world.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

They are also the first in Chile where a local authority has supported a renewable energy project under the Stabilised Price Regime. This regime accounts for projects below 9MW in size, known as PMGDs. The stabilised price regime, which is an alternative to the highly volatile spot market, helps projects secure financing as it is seen as less unstable and more predictable.

Grenergy has roughly 200MW of solar projects completed or under development in Chile. It has also recently been awarded a 30MW solar project in Mexico and a 36MW wind project in Peru.

Grenergy chief executive, David Ruiz de Andrés, said: “We hope that 2017 will be the year of Grenergy’s consolidation in Latin America. The year-end goal is to become the company with the highest number of photovoltaic plants in operation in Chile. This will also bolster our business model, producing a mix between recurring revenue – generated by the sale of power from plants in operation – and the sale of plants to third parties”.

London-based firm Actis this week acquired 1.5GW of bankrupt SunEdison’s Latin American PV assets while also forming a new platform for the region.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA