CVE Chile signs with the Spanish company SOLARPACK for the purchasing of 4 projects under development with a total capacity of 44,7 MWp for a transaction value of 45 MUSD

This deal establishes CVE Chile’s position as a key player in the decentralized solar power sector in Chile (PMGD) and also consolidates Solarpack’s position in this market, where it has successfully developed over 120 MWp and built 67.5 MWp of solar PV projects in the country, 31.6 MWp of which are PMGDs owned and operated by the Spanish company.

Santiago, 25 October 2018 – CVE Chile, a Chilean subsidiary of the CVE group, has recently signed a deal with Solarpack for 45 million dollars for the purchasing of 4 solar power plants under development, each with a generating capacity of 9 MW. Located in Chilean Regions I, VI and VII, these plants are being built under the Chilean government’s PMGD scheme (from its acronym in Spanish, Pequeños Medios de Generación Distribuida) to encourage the development of small (sub-9 MWac) power generation plants.

“This transaction accelerates our development in Chile and consolidates our leading position in the PMGD market. In the coming years, we plan to keep a steady pace of development of around 40 MWp per year, reaching a renewable generating capacity of 225 MWp by 2022,” announced CVE Chile’s CEO, Pierre Boulestreau.

CVE Chile is strengthening its position as a producer of decentralized renewables in Chile

Chile appreciates the importance of decentralized renewable energy sources and, in particular, their role in reducing the environmental impact and infrastructure costs involved in transporting power. CVE Chile is strengthening its position as a producer of decentralized renewables in Chile, meaning that this energy is produced close to the site of consumption. The 4 newly acquired projects are ground mounted solar power plants with a generating capacity of 9 MWp located in San Clemente and Linares (VII region), near Rancagua (VI region), and in the North of Chile near Pozo Almonte (I region). These projects are to be commissioned in 2019.

Pablo Burgos, Solarpack’s CEO, said: “Solarpack started operations in Chile 10 years ago becoming the pioneer of utility scale solar PV in the region and introducing a technology that has since then transformed the country’s electricity market. Ten years later, we remain committed to the country with our 58.1 MWp in operation, and to delivering best-in-class solar energy solutions for our customers. We are delighted to have reached this agreement with CVE Chile, under which we will start executing for them a series of solar PV projects totaling 44.7 MW DC in the next few weeks.”


Solarpack has six solar PV plants operating in Chile: Calama Solar 3, which was the first industrial-scale solar plant in South America, with a total installed capacity of 1.1 MWp; Pozo Almonte Solar 2 (8.1 MWp) and Pozo Almonte Solar 3 (17.3 MWp), which produce ~13% of the energy consumed by the Doña Inés de Collahuasi mining company; Pozo Almonte Solar 1, which boasts 10,5 MWp; and two 10.5 MWp plants (Calama Solar 1 and Puerto Seco Solar) located in Calama, within the Atacama Desert. Besides, Solarpack has recently built and sold a 9.4 MWp plant located in Diego de Almagro.

CVE Chile’s strategy is in line with the CVE group’s vision of the renewable energy market

It’s based on the decentralization of production and a direct energy sales model through private contracts, in response to the needs of businesses and local authorities. After a four-year period of selling electricity via a stabilized pricing mechanism, CVE Chile will be able to sell its renewable energy directly to industrial companies in the Santiago region through private purchase agreements (PPA) or long-term energy purchase agreements.