Rame Energy has sold its 20% stake in the 15MW Raki/Huajache on-grid wind farms in Chile to InterEnergy Holdings.
Rame developed the projects in partnership with Santander Investment Chile and they were the first projects completed since its IPO in April 2014.
The company said it will receive $4.4m which will be used to develop other wind and solar projects in Chile.
Rame chief executive Tim Adams said “We are delighted with the sale of the Raki and Huajache projects. Our estimated gain of approximately 50% of our investment over the period of 20 months demonstrates Rame’s ability to deliver substantial returns in a relatively short time frame.”
Rame has previously announced that the Raki/Huajache projects formed part of its plans to develop on-grid wind farms in Chile with a combined capacity of up to 133MW.
Image: (sxc)
