Independent power producer (IPP) Sonnedix has acquired 416MW of solar PV portfolio in Chile from Italian energy company Enel and its subsidiary Enel Chile.
Consisting of four solar PV plants located in the northern regions of Atacama and Antofagasta – known for having one of the highest solar irradiance in the world – the assets were acquired through Arcadia Generación Solar. Enel sold the entire equity interests in the share capital of Arcadia Generación Solar who owned these Chilean projects.
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
The transaction was closed at US$556 million, according to Enel, while Sonnedix closed – in parallel – a US$624 million acquisition financing facility with financing entities BNP Paribas, SMBC and Société Generale, acting as joint lead arrangers. The purchase agreement was signed on 12 July 2023.
All four plants are already operational and are Diego de Almagro – not to be confused with the 230MW solar-plus-storage project from utility Colbún of the same name – with a capacity of 36MW, Carrera Pinto (97MW), Pampa Solar Norte (79MW) and Domeyko (204MW).
Axel Thiemann, CEO of Sonnedix, said: “The acquisition of this portfolio demonstrates Sonnedix’s strong and long-standing commitment to helping Chile meet its renewable power goals. The refinancing recognises this strategy, the growing scale of our platform in country and the enduring strength of the relationships with our banking partners. I am delighted to be adding another PPA to those already agreed this year.
Arcadia Generación Solar has a long-term power purchase agreement (PPA) with Enel Green Power for the supply of green electricity.
This acquisition marks the IPP’s largest operating asset acquisition to its portfolio, while bringing its Chilean capacity to 2.5GW of renewables either operational or in different stages of development. One of its most recent projects, Meseta de los Andes, reached commercial operations in June this year with an installed capacity of 160MW and located 50km north of the Chilean capital, Santiago.
