Italian multinational Building Energy has joined hydroelectric company Scotta Group in a venture to build and operate renewable energy assets in Chile.
The newly formed Building Energy Andes plans to focus on solar photovoltaic and mini-hydro power plants, which benefit from a stabilised tariff dedicated to small- and medium-sized renewable projects.
It is working on a pipeline of around 30MW, which it expects to be fully operational by the end of 2018.
The projects, which are located in the central regions of Chile, require an investment of about €37m.
The first of the projects, with a capacity of about 3MW, is located near the town of Hualañé and is under construction.
Building Energy managing director Latam Daniele Moriconi said: “We are extremely pleased with the closing of this joint venture with Scotta Group, which has provided a strong foundation for us to work together in the Chilean renewable energy market.
“The alliance brings together two companies with significant experience and a strong commitment to Chile and South America as a whole.”
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