EDPR enters Chilean renewable market with 628 MW wind and solar portfolio

EDP Renewables has reached agreements to acquire a 628 MW wind and solar portfolio in Chile, with commercial operations expected to commence between 2023 and 2025. The transaction has been reached through two separate agreements with Atacama Energy and Lader Energy for a total consideration of up to US$38 million, conditional to the successful achievement of pre-determined milestones for each project.

The portfolio consists of a 77 MW wind farm with a 20-year PPA, expected to enter in operation in 2023, and 551 MWs in projects under development, including two wind farms totaling 297 MWs and one 254 MWac solar park. These projects will be actively participating in the upcoming regulated tenders and in the private PPA market in Chile, aiming to enter into operation by 2025.

Completion of the transaction for the 77 MW wind farm is subject to regulatory approval and other customary closing conditions for a transaction of this nature. Completion of the 551 MWs of projects under development has occurred simultaneously to the signing of the agreements.