Verano Capital Inaugurated New PMGD Solar Project in Chile

American solar energy project developer, Verano Capital has inaugurated its latest PMGD solar park, El Litre del Verano in Chile, adding 9 MW of clean energy to the national electricity system.

For the inauguration of the solar park the company had invited the Minister of Energy, Juan Carlos Jobet and the Mayor of the Metropolitan Region, Felipe Guevara.

While highlighting the achievements of the project on the occasion, Dylan Rudney, CEO of Verano Capital, said “thanks to the energy and commitment of our team we were able to complete the project on time and on budget, speeding up the process from environmental qualification to connection to the grid. Construction of the park was completed in less than 6 months for an investment of approximately 10 million dollars.” 

Chile has announced a massive USD 22.6 billion investment to develop renewable energy and has seized upon the falling cost of solar projects to shift its energy mix away from coal. Renewables now make up 44 percent of the energy mix.

The Energy Minister, Jobet emphasized that, “these renewable energy projects not only allow us to clean up our energy matrix; but also, they give us access to cheaper energy and allow us to generate employment.”

“It is incredible that 5 years ago we thought that we were going to achieve a 70 per cent share of renewable energy by 2050 and we are seeing that it is very likely that we will reach that goal 20 years earlier,” Jobet added.

The company is one of the leading project developers in Latin America focusing on Chile and Argentina markets. El Litre del Verano is it’s 23rd project in Chile to reach commercial operation, bringing its installed capacity over 100 MW. Besides, the 25 PMGD projects were in development.

In addition to its significant pipeline in Chile, the company has more than 1 GW of projects under development in Argentina, Colombia, and most recently Perú. It aims to have more than 500 MW of solar projects operating in Latin America within the next 3 years. 

Rudney concluded that “we are delighted to support the Chilean government with their ambitious development plans for renewable energy. Our experience across all aspects of project development, from design to financing, from construction through to asset management, means that we can offer the most competitive energy solutions for our customers.” 

Solar PV | News published on 15/09/2020 by Manu Tayal

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