The Portuguese renewable company EDPR has entered the Chilean power market by acquiring a 628 MW wind and solar portfolio from Atacama Energy and Lader Energy for a total consideration of US$38m. The portfolio comprises a 77 MW wind project with a 20-year power purchase agreement (PPA), expected to enter in operation in 2023, and 551 MW in projects under development, including two wind plants totalling 297 MWs and one 254 MW solar plant. EDPR will participate in the upcoming regulated tenders and in the private PPA market in Chile with these projects, aiming to enter into operation by 2025. EDPR currently owns 0.4 GW of operational plants and 1.1 GW of projects in Brazil and 0.5 GW of projects in Colombia.
The group bets on renewable opportunities in Chile, as the country aims to raise the share of non-hydro renewable sources to 20% of its power mix in 2025 and 70% by 2050.
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