Akuo and Atlantica Sustainable Infrastructure announced the closing of financing and the start of construction of a portfolio of nine photovoltaic power plants with a total capacity of 80 MWp. The projects, located in the regions of Maule , Ñuble, Araucanía and Biobío, in the south of Santiago de Chile, will help accelerate the country’s energy transition.
Once in service, they will supply nearly 60,000 homes and avoid the emission of over 60,000 tons of CO2* per year. These nine solar farms will help Chile diversify its energy mix, which currently relies heavily on fossil fuels.
Chile wants to accelerate its energy transition
Chile has set an ambitious goal of converting 70% of its total energy consumption to renewable energy by 2030, with strong citizen support: according to Yale’s Climate Change Communication Program, 91% of Chileans believe that climate change should be a government priority. The portfolio benefits from the country’s PMGD (Pequeños Medios de Generación Distribuida) scheme.
Akuo and Atlantica Sustainable Infrastructure are the equity sponsors, while the debt financing is provided by DNB. The engineering, procurement and construction activities for the nine solar plants will be carried out by the Italian MAIRE Group, which also acted as co-developer of the initiatives, through its Integrated E&C Solutions business unit.
