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May 31, 2021

EDPR acquires 628MW renewable portfolio in Chile

EDPR plans to pursue additional wind and solar projects in addition to green hydrogen growth opportunities in Chile.

By Umesh Ellichipuram

EDP Renewables (EDPR), part of EDP group, has signed agreements to acquire a 628MW wind and solar portfolio in Chile, increasing its global footprint.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The company signed two different agreements with Atacama Energy and Lader Energy for a total consideration of up to $38m.

Under one agreement, EDP Renewables acquired projects with 551MW capacity that are currently under development. This includes two wind farms with 297MW capacity and one 254MWac solar park.

Completion of these projects has occurred simultaneously to the signing of the agreements.

In the second agreement, EDP Renewables will acquire 77MW wind farm which has a 20-year power purchase agreement (PPA) in place. The wind farm is expected to come online in 2023.

Completion of the deal is subject to regulatory approval and other customary closing conditions.

These projects will actively take part in the upcoming regulated tenders and in the private PPA market in Chile. They aim to become operational by 2025.

EDPR and EDP Group CEO Miguel Stilwell de Andrade said: “We are committed to playing an active role in the energy transition and in the Latin American markets, where Chile offers world class renewable energy generation potential.

“The entry into this market confirms the importance of the region for EDPR’s ambitious international growth strategy. This move reinforces our global leadership, and we are confident of Chile’s growth potential for the renewable energy sector.”

Going forward, EDPR will pursue additional wind and solar projects as well as green hydrogen growth opportunities in the country.

With its entry into the Chilean market, EDPR will strengthen its presence in Latam, where it owns 0.4GW of operating capacity and a secured capacity of 1.1GW and 0.5GW in Brazil and Colombia, respectively.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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