EnfraGen, LLC, a developer, owner, and operator of specialized sustainable and renewable power and grid stability assets in Latin America owned by leading global private markets firm Partners Group, on behalf of its clients, and Glenfarne Group, LLC ("Glenfarne"), announced an expansion of its renewables business through new investments in solar energy generation assets, which further enhance EnfraGen’s infrastructure market leadership in the energy transition.
EnfraGen, through its Fontus Renewables division, has recently acquired 10 ready-to-build solar photovoltaic (PV) projects and three nine-megawatt operating solar PV plants, all of which are located in Chile.
EnfraGen also announced it has entered into EPC contracts with Metka – EGN Limited and its Chilean subsidiary Metka EGN Chile SpA, as well as with Elecnor S.A. and its Chilean subsidiary Elecnor Chile S.A., to construct the 10 ready-to-build projects. EnfraGen has provided Metka and Elecnor with a limited notice to proceed beginning the construction process.
The 10 projects, once completed and in operations, will total approximately 90 MWac installed capacity and when combined with the newly acquired and existing operating projects owned by EnfraGen, the portfolio totals 126 MWac. All projects will qualify for Chile’s stabilized price regime as PMG/PMGD plants and add to EnfraGen’s existing value-added renewable power business, Fontus Renewables.
Brendan Wolters, Head of Solar for Fontus Renewables, said, “Chile has some of the greatest potential for solar photovoltaic power generation in the world and an energy policy designed to support its advancement. Fontus Renewables’ solar efforts leverage our existing capabilities and expertise in the region, and contribute to Chile’s energy transition to renewable power.”
Ed Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, adds, "EnfraGen continues to grow as a premier platform of renewable power and grid stability assets in Latin America, providing essential renewable solar power to local communities. We are proud of the significant transformation the business has gone through to date, as well as the broad positive impact it has by securing sustainable power for the region. Partners Group looks forward to further supporting EnfraGen's growth and leadership in the transition to a more sustainable future."
“The acquisition of these 13 solar assets marks another significant milestone for the EnfraGen business, which has grown into one of the pre-eminent power businesses in Latin America,” said Brendan Duval, Chief Executive Officer of EnfraGen, LLC, and Founder and Managing Partner of Glenfarne Group, LLC. “Chile has made great strides to incorporate renewable energy sources into its power grid in recent years, and we see further growth potential to enhance our power infrastructure portfolio in Latin America going into 2021 and beyond.”
