A portfolio company of funds managed by Denham Capital, Jenner Renewables stated that the solar projects will be built in two phases.
The first phase of the portfolio will include 46MW of solar projects, which are expected to begin commercial operations in the third quarter of this year.
The second phase will consist of the remaining 100MW and this phase would start commercial operations in the first quarter of next year.
Financing for the portfolio has been arranged by Deutsche Bank. It has been arranged in a structure that enables Jenner to finance each project separately on a non-recourse basis under an aggregation facility as each projects reaches the ready-to-build stage.
The projects will be located throughout the Sistema Interconectado Central (SIC) region and will be supported by the pricing mechanism of Chilean Small Distributed Generators (PMGD), that is expected to offer a long-term stream of stable cash flow to the projects.
Projects under the PMGD scheme will be connected to the distribution networks and are expected to bring generation closer to consumption.
Jenner Renewables founder and CEO Jorge Calvet said: “As an independent power producer operating throughout Latin America, we are very excited to contribute in such a significant way to the development of renewable energy in Chile. This country is at the forefront of implementing a carbon free electricity system by 2040 and our projects definitely support this strategy.
“This is part of our renewable energy pipeline of 1,500 MW, which we intend to develop over the next 3-4 years in Chile, Mexico, Colombia, Argentina and other countries in the region.”
Image: Jenner Renewables closes finance to build 146MW solar projects in Chile. Photo: Courtesy of franky242/FreeDigitalPhotos.net.
