Sonnedix, the global independent solar power producer (IPP) has recently acquired a solar PV project in development stage from the renewable energy developer and constructor Andes Solar. The transaction includes the co-development of the project.
Sonnedix Andino Occidente I, located in Las Cabras, O’Higgins region in Chile, will have an estimated total installed capacity of 160MWp, becoming the third largest solar PV plant of Sonnedix. The construction of the project is expected to begin in the fourth quarter of 2023.
“This transaction highlights our position as a long-term solar company and social citizen, in line with our growth strategy in Chile and other OECD markets around the world,” said Axel Thiemann, CEO of Sonnedix. “It also demonstrates our commitment to help Chile achieve its renewable energy targets, as we continue to actively seek new opportunities to develop, own, and operate solar PV assets in the country."
“We are pleased with this first agreement with Sonnedix. It allows us to continue contributing to the decarbonization of Chile and strengthens our Utility Project Development line of business that we have been working on. The Andino Occidente I project is one of 5 projects in the central region of Chile completing more than 1 GW developed by Andes in the area,” said Martín Valenzuela, CEO and General Manager of Andes Solar.
Once built, the project will generate approximately 337 GWh of clean energy per year – reducing carbon emission by around 140,000 metric tons. This is equivalent to taking approximately 30,000 cars off the road.
On this transaction, Sonnedix was advised by Gerrero Olivos and Andes Solar by MWLAV Abogados.