Korean company, Daelim Energy, acting through its renewables subsidiary DE Energía SpA, and Spain’s Grenergy Renovables have signed a framework agreement for Daelim’s acquisition of Grenergy’s 12 solar PMGD projects in Chile. The first project has already been transferred to Daelim and the Santa Rosa PV Plant, situated in the Región Metropolitana, is currently under construction.
The 12 projects are solar plants with generating capacity of 8MWn and 9MWn and will be constructed by Grenergy, using Tier 1 main equipment providers. These projects will operate under Chilean regulation that favors small distributed generation units selling energy under the Stabilized Pricing format in Chile.
Grenergy will keep operating the plants through its O&M and Asset Management divisions. The Spanish multinational, which closed the first half of this year with an EBITDA of €5.14 million and a net profit of €3 million, has extensive experience in this type of projects in this country. In fact, the company has 18 photovoltaic parks built and connected, accumulating a total of 95 MWs.
The Chilean market is one of the most dynamic in the world in the field of renewables and one of the strategic markets of the Grenergy Business Plan, which opened its first international subsidiary there in 2012 attracted by its economic growth and wealth of resources natural On the other hand, regulatory stability and government policies support this 'boom' of sustainable energies, since their goal is that in 2050 they represent 70 percent of the total energy system.
“Chile is a strategically important market since solar PV is highly competitive in the country’s power sector and Chile is the hub of LATAM. We, Daelim Energy, are very pleased to launch our first project in such significant market with a trustworthy and experienced partner, Grenergy. We strongly believe that Grenergy and Daelim Energy will continuously cooperate for further projects beyond Chile towards other regions in LATAM,” said Sean Kim, CEO of Daelim Energy.