Jenner Renewables reaches financial close on 146MW PV portfolio in Chile

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The portfolio, developed in two phases, will feature a 46MW first phase that is expected to reach commercial operation by Q3 2018. The 100MW second phase is expected to reach commercial operation by Q1 2019. Image: Steve Rainwater / Flickr

Jenner Renewables, an IPP focused on renewable projects in Latin America, has reached financial close on a portfolio of 12 solar projects in Chile totaling 146MW.

The portfolio, developed in two phases, will feature a 46MW first phase that is expected to reach commercial operation by Q3 2018. The 100MW second phase is expected to reach commercial operation by Q1 2019.

Located across the Sistema Interconectado Central (SIC) region, these solar projects are supported by Chilean Small Distributed Generators' (PMGD) pricing system that provides a long-term influx of stable cash flow to the projects.

Jenner’s financing structure was arranged by Deutsche Bank and will allow the IPP to finance each separate project on a non-recourse basis under an aggregation facility as each project reaches ready-to-build stage.

The 146MW PV portfolio will displace 120,000 tons of CO2 per year in Chile and generate 324 GWh per year — producing enough energy to power more than 43,000 Chilean households.

Jorge Calvet, founder and CEO of Jenner, said: “As an independent power producer operating throughout Latin America, we are very excited to contribute in such a significant way to the development of renewable energy in Chile. This country is at the forefront of implementing a carbon free electricity system by 2040 and our projects definitely support this strategy. Yhis is part of our renewable energy pipeline of 1,500MW, which we intend to develop over the next 3-4 years in Chile, Mexico, Colombia, Argentina and other countries in the region.”

Read Next

June 1, 2021
Financial commitments for utility-scale renewables projects in Australia have slowed to the lowest level in the past five years, according to the Clean Energy Council (CEC), which revealed investment in large-scale batteries in the country is booming.
May 12, 2021
Data from green hydrogen demonstration projects should be made available to help enable the future bankability of larger installations, unleashing the sector’s decarbonisation potential, a panel has suggested.
May 11, 2021
Spain’s Solarpack was affected by pandemic-related project delays in Chile during a first quarter, in which it saw its net profit shrink 95% year-on-year to €300,000.
May 7, 2021
Latin America-focused solar developer Atlas Renewable Energy has obtained a US$150 million loan to finance the construction of its 359MWp Lar do Sol - Casablanca PV project in Brazil.
April 29, 2021
French utility Engie has doubled its renewables deployment targets in Chile as part of plans to end its coal-fired generation activities in the country by 2025.
April 21, 2021
Independent power producer Opdenergy has mandated BBVA as the underwriting entity for financing the development and construction of its 725MWp backlog of solar projects in Spain.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021