Grenergy, the Spanish company devoted to the production of energy from renewable sources, has completed the transfer of 11 solar plants (PMGD) located in Chile to the InterEnergy Holdings international fund. The global agreement has materialized for a total amount of 66.5 million US dollars (approximately 58 million euros).
With the last transfer of 3 PMGD plants -with a capacity of 12MWn and an amount of 7.4 million dollars- carried out at the end of 2018, the Spanish company completes this operation signed in 2017, which comprised the sale and construction of eleven PMGD solar projects in Chile to InterEnergy, with a total installed capacity of 51MW peak -45MW nominal-.
This transaction comes on the heels of other recent agreements such as one that the company announced just a week ago with Sonnedix for the construction of two new solar plants (PMGD) in Chile, with an individual capacity of 6MWn and 9MWn, respectively
These projects, located in the regions of Coquimbo, Metropolitana, O Higgins and Valparaíso, have been fully developed and built by Grenergy and were the first PMGD with structured financing under the Stabilized Price regime in Chile. Further, the company will remain linked to them, since it will carry out the Operation and Maintenance through its O & M division.
This transaction comes on the heels of other recent agreements such as one that the company announced just a week ago with Sonnedix for the construction of two new solar plants (PMGD) in Chile, with an individual capacity of 6MWn and 9MWn, respectively, and a total investment of 17.5 million dollars (about 15.2 million euros). Another deal was secured with South Korea’s Daelim for the sale and construction of twelve PMGD solar plants with a capacity of 125 MWp and a total investment in capital assets (CAPEX) of 142 million dollars – some 125 million euros.
All these alliances, in a strategic market for Grenergy like Chile -where the company is the one with more photovoltaic plants connected to the grid in the Andean country to date-, places within the company´s reach the objectives set out in its recent Business Plan 2018- 2020 to increase its net profit by 146% to 16 million euros in the next two years or to multiply its EBITDA by four, to 33 million by 2020.