Spanish Renewable Energy Firm Sells 32.5 MWp of DG Solar Projects in Chile
- Spanish Renewable Energy Firm Sells 32.5 MWp of DG Solar Projects in Chile
Spanish renewable energy firm Grenergy Renovables SL recently closed the sale of three solar distributed generation (DG) projects in Chile for USD 44.2 million (EUR 41.4m). The projects, located in Dolores, Buenaventura, and Zaturno, have a combined capacity of 32.5 MWp. All three projects are PMGDs, meaning they are covered by a special regulatory regime for small-scale DG plants and entitled to sell electricity at stabilised prices. The name of the buyer or buyers has not been disclosed.
Why does it matter?
The sale is part of Grenergy’s build-to-sell strategy, which enables it to generate cash to support the financing of its goals as an independent power producer. This sale is a significant step for the firm as it demonstrates their ability to successfully complete projects and create value for their shareholders. Furthermore, the sale of these projects is a sign of increased investment in renewable energy sources, which is essential for a more sustainable future.
Grenergy is actively expanding its business, with a portfolio of projects in Spain, Portugal, and Chile, including more than 850 MW of renewable energy projects in operation or under construction. The firm is also working on various other projects in Africa, Latin America, and the Caribbean. With the sale of these projects in Chile, Grenergy is demonstrating their commitment to the development of renewable energy sources and the sustainability of our planet.