CVE Chile signs with the Spanish company SOLARPACK for the purchasing of 4 projects with a total capacity of 50 MWp

This deal establishes CVE Chile’s position as a key player in the decentralized solar power sector in Chile (PMGD) and also consolidates Solarpack’s position in this market, where it has successfully developed over 200 MWp.

Santiago, March 11, 2021 – CVE Chile, a Chilean subsidiary of the CVE group, has recently signed a deal with Solarpack for the purchasing of 4 solar power plants, 3 of which are under construction, with a total capacity of 38 MWp and 1 in the final phase of development, with a capacity of 12 MWp. Located in Chilean regions Bío Bío for two of them, Maule and Coquimbo for the other two, these plants are being built under the Chilean government’s PMGD scheme (from its acronym in Spanish, Pequeños Medios de Generación Distribuida) to encourage the development of small power generation plants.

CVE strengthens its leading position in the PMGD market

« This transaction, led by CVE Chile with the support of Guerrero Olivos, legal counsel in the context of the transaction, accelerates our development in Chile and consolidates our leading position in the PMGD market. CVE Chile, which currently holds 8% of the market share in the solar PMGD segment, plans to achieve a 15% market share and to quadruple the fleet by 2025, with a renewable production capacity of 460 MWp. This operation also strengthens our partnership with Solarpack, after a first acquisition of 4 plants in 2018″ announced the CEO of CVE Chile, Pierre Boulestreau.
Chile appreciates the importance of decentralized renewable energy sources and, in particular, their role in reducing the environmental impact and infrastructure costs involved in transporting power. CVE Chile is strengthening its position as a producer of decentralized renewables in Chile, meaning that this energy is produced close to the site of consumption. The 4 recently acquired projects are ground-mounted solar power plants with a total production capacity of 50 MWp and are expected to be commissioned in the second or third quarter of 2021.
Jaime Solaun, Director of Solarpack for the Americas and Africa, said: « Solarpack remains committed the solar PV sector in Chile, market which we consider key for the development of our company. We are delighted to have reached this agreement with CVE, under which we are executing for them a series of solar PV projects totaling 50 MWp».
Solarpack has nine solar PV plants operating in Chile, with a total installed capacity of 202.2 MWp.

A short circuit production strategy in line with the vision of its parent company

CVE Chile’s strategy is in line with the CVE group’s vision of the renewable energy market, based on the decentralization of production and a direct energy sales model through private contracts, in response to the needs of businesses and local authorities.