Grenergy strengthens its Chilean portfolio with new PV proje

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Grenergy Renovables showcased its Environmental Impact Statements for three PV projects to the Chilean Environmental Evaluation Service (SEA) last August, highlighting the three sites in the Libertador O’Higgins and the Metropolitan regions that will have a total generation capacity of 27MW and a peak power of 31MW.

The three projects will require a total investment of around US$45 million, with construction slated to begin in the second quarter of 2016.

Grenergy is also finalising the development of its first plant in Chile — FV El Olivo — while construction is also expected to begin on a second plant in the same region over the next few weeks. The company is currently negotiating a project finance deal for both installations with a financial institution and expects to close a financing deal during the second quarter of 2015.

The company also managed to complete the sale of its 40MW PV plant in development in the Coquimbo region of Chile.

Currently, Grenergy has over 100MW of similar projects in an advanced state of development, with the company planning to reach 150MW of capacity by 2016.

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