Nala Renewables has signed an acquisition agreement for a portfolio of solar projects under development and construction in Chile totalling 150MW.
Nala is buying the portfolio of 13 projects, located in five regions across the country, from developer Solek.
The portfolio, expected to be fully operational over the next two years, will have a maximum power output of up to 150MW and will operate under Chile’s special regime for distributed generation projects (the PMGD regime), ensuring stable remuneration for the renewable power generated.
Solek will execute the engineering, procurement and construction contracts (EPC) and operation and maintenance contracts (O&M) for the projects.
“By 2025, Nala Renewables’ aim is to build a global portfolio of renewable energy projects with a cumulative generative capacity of four gigawatts to be operating, in construction, or in late-stage development,” said Jasandra Nyker (pictured), CEO of Nala Renewables.
“We are pleased to be working with Solek and alongside our co-investors in Chile and plan to continue expanding our footprint, both within the region and beyond.”
The PV projects will be majority-owned by Nala Renewables’ business in Chile, Nala Renewables Chile Spa, alongside minority investors financial services firm Moonvalley Capital and Finnish renewables investment company Korkia.
Nala Renewables will establish an office in Santiago.