Actis acquires El Pelicano solar power plant in Chile from SunPower

Energy acquisition news : Investment company Actis has acquired a 110MW solar power plant in Chile named as the El Pelicano Solar Plant from California-based solar energy company SunPower.

Financial terms of Actis acquisition of El Pelicano solar power project were not disclosed.

The relatively new solar plant in Chile, which uses SunPower Oasis power plant technology, is located in the municipality of La Higuera in the Coquimbo Region.

The El Pelicano solar plant has been generating power since mid-November 2017.

It is expected to produce 300 gigawatt hours per year of power to Metro de Santiago, the underground railway system of Santiago under a power purchase agreement.

Solar power plant panels. Photo courtesy of Naypong at FreeDigitalPhotos.net.

Commenting on Actis acquisition of El Pelicano solar power project, Javier Areitio – director of the investment firm, said: “With a supportive regulatory environment and abundant solar resource, Chile is a market we know extremely well through our investments in the Aela Energía and Atlas Renewables platforms.

“We are confident that in partnership with Metro de Santiago and SunPower, the El Pelicano plant will be a terrific illustration of clean, sustainable energy for many years to come.”

SunPower, which is a subsidiary of French oil and gas giant Total, will continue to provide operations and maintenance services for the El Pelicano solar plant under a long-term contract.

Chuck Boynton – chief financial officer of SunPower, commenting on SunPower’s sale of the solar power plant in Chile, said: “Actis is focused on sustainable value, which makes the El Pelicano Solar Plant a great fit for its portfolio.

“High performance SunPower Oasis technology is designed to cost-effectively maximize power generation for decades. Forward-looking organizations like Actis and Metro de Santiago are a global model for the development of solar power, reducing reliance on unsustainable energy sources.”

The acquisition of the El Pelicano solar plant by Actis follows its last month’s deal worth $1.256 billion to buy the Mexican energy assets of InterGen, which includes 2.35GW of power generation capacity.