Nala Renewables acquires large portfolio of Solar Photovoltaic Projects under development in Chile
17. December 2021
Santiago, Chile, 16 December 2021 – Nala Renewables, a global power and renewable energy investment and development platform, announces that it has signed an acquisition agreement for a portfolio of solar photovoltaic (PV) projects under development and construction in Chile from renewable energy developer Solek, comprised of thirteen PV projects located in five regions across the country.
The portfolio, expected to be fully operational over the next two years, will have a maximum power output of up to 150 megawatts and will operate under Chile’s special regime for distributed generation projects (the PMGD regime), ensuring stable remuneration for the renewable power generated. Solek, which has an excellent track record of developing renewable energy projects globally including in Chile, will execute the engineering, procurement and construction contracts (EPC) and operation and maintenance contracts (O&M) for the projects.
“By 2025, Nala Renewables’ aim is to build a global portfolio of renewable energy projects with a cumulative generative capacity of four gigawatts to be operating, in construction, or in late-stage development,” said Jasandra Nyker, CEO of Nala Renewables. “We are pleased to be working with Solek and alongside our co-investors in Chile and plan to continue expanding our footprint, both within the region and beyond.”
“We are very pleased to cooperate with Nala Renewables. Partnering with an investor who is on track to build a global portfolio of four gigawatts is an important step that is in line with Solek's strategy and opens the potential for further cooperation in other regions,” said Zdeněk Sobotka, founder and CEO of the Solek Group.
The PV project will be majority-owned by Nala Renewables’ business in Chile, Nala Renewables Chile Spa, alongside minority investors financial services firm Moonvalley Capital and Finnish renewables investment company Korkia. Nala Renewables will establish an office in Santiago.
Moonvalley Capital also acted as exclusive financial advisor to Nala Renewables and the minority investors for this transaction.