EIG launches new renewable energy platform in Chile

KUALA LUMPUR, June 30 (Bernama) -- EIG, an institutional investor to the global energy sector and one of the world’s leading infrastructure investors, has launched Grupo Cerro, a new renewable energy platform in Chile.

R. Blair Thomas, EIG Chairman and CEO said: “The transaction is expected to provide portfolio synergies, create operating efficiencies and enhance technological and geographic diversification for Grupo Cerro.

“After the completion and synchronisation of the ground-breaking Cerro Dominador solar power plant in 2021, the first CSP project in Latin America, this transaction marks another significant milestone in our strategy to invest in high-quality assets, best-in-class teams and energy infrastructure supporting the energy transition in Chile.”

Meanwhile, Fernando Gonzalez, CEO of Grupo Cerro said: “This transaction advances our commitment to Chile’s growth.

“These plants, combined with our Likana Solar and Pampa Union projects now under development, will help diversify our renewable energy portfolio geographically to be able to further secure low-cost renewable energy production for the Chilean market and continue supplying clean power throughout the country 24 hours a day.”

The newly formed entity includes EIG-owned Cerro Dominador plants and the recently acquired ANPAC, the owner of a portfolio of 11 small and medium run-of-river hydroelectric power plants in the O’Higgins, El Maule, Bio Bio and La Araucania regions.

According to a statement, the 110 MW ANPAC portfolio includes operating plants and projects at various stages of construction and development in both the spot and stabilised-tariff markets.

Following the acquisition, Grupo Cerro now manages over 280 MW of installed capacity in Chile, including the Cerro Dominador Photovoltaic (PV) and Concentrated Solar Power (CSP) plants.

EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.

More details at www.eigpartners.com.

-- BERNAMA