GIP buys 41% shares of 734 MW Chilean renewable energy portfolio

AES Andes, a subsidiary of AES Corporation, has announced that Global Infrastructure Partners (GIP) acquired a 49% stake in a renewable energy portfolio in Chile. AES Andes will retain a 51% stake. The US$441 million deal, which was announced on July 15, closed on July 29, 2021.

The portfolio consists of Los Cururos, Andes Solar II a & b, Los Olmos, Mesamávida, and Campo Lindo, having an aggregate capacity of 734 MW. Under the agreement, GIP also has an option to acquire a similar interest in a future portfolio.

Latham & Watkins LLP advised GIP on the matter.