SOLEK forms deal with BlackRock to build up to 200MW of solar in Chile


The deal will see Solek’s Chilean arm develop the 28 solar PV projects as well as provide O&M services. Image: Solek

Developer Solek Group is to develop, build and sell up to 200MW of solar in Chile to BlackRock’s Global Renewable Power Fund III (GRP III) following the signing of a new framework agreement.

This, alongside the overseeing of the operation and maintenance services for the projects, will be done through Solek’s Chilean subsidiary SOLEK Latam Holding. Aediles Capital, meanwhile, will oversee the asset management on behalf of GRP III.

The PV portfolio – which consists of 28 individual solar projects – will be constructed and connected under Chile’s PMGD/PMG programme for distributed energy plants, which is supporting the country’s move to carbon neutrality by 2050 and includes other PV plants such as a 200MW portfolio owned by SUSI Partners and a 11.7MW plant developed by D ‘E Capital.

Chile is to hold a power auction later this year that will contract 5,250GWh per annum for 15 years, with the previous auction in September 2021 being eight times oversubscribed with support to be provided for 2GW of renewables and storage projects.

Solek said that solar power plant projects with a total installed capacity of 90.5MW are already under preparation phase of construction, with these projects serving regions with high demand for electricity due to growing populations and a developed mining industry.

Zdeněk Sobotka, founder and CEO of the SOLEK Group, said: “This is an important strategic step towards establishing cooperation with leading infrastructure investors, who are key to the further growth of SOLEK Group, not only in Chile but also in other countries.”

27 June 2023

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