EDP Renewables has announced the acquisition of 628 MW of wind and solar assets under two separate deals with Atacama Energy and Lader Energy in Chile. The acquired capacity comprises a 77 MW wind farm which has a 20-year power purchase agreement and set for operation in 2023 and 551 MW of solar and wind farms, which are currently under development. The solar and wind projects under development are expected to be live by 2025 to participate in upcoming regulated tenders and private power purchase deals.

The move represents EDP Renewable’s commitment to play an active role in the energy transition and in the Latin American markets, where Chile offers world-class renewable energy generation potential. The company currently owns 400 MW of renewable energy projects in operation in the region, as well as 1,100 MW and 500 MW of secured capacity in Brazil and Colombia, respectively. The acquisition also marks the presence of EDP Renewables across 21 countries.

While Chile has massive potential for renewable energy generation, it is still heavily reliant on thermal power generation which accounts for 50 per cent of the country’s total energy mix. However, the country has announced tenders and an increasingly growing portfolio of private renewable power purchase deals. Chile plans to expand the share of renewables excluding hydro within its energy mix to 20 per cent by 2025 and 70 per cent by 2050.