Glenfarne Group has acquired a portfolio of four solar assets and associated battery energy storage facilities in Chile for approximately USD 815 million, consolidating its position in the renewable energy sector across Latin America.

Information on the Target

In April, Glenfarne Group, a U.S.-based developer, owner, and operator of energy infrastructure projects, announced its subsidiary's acquisition of a portfolio comprising four operational solar assets and associated battery energy storage system (BESS) facilities located in Chile. This deal involves an installed capacity of 588 MW from solar projects and an additional 1,610 MWh of BESS, which is currently under construction. The projects are strategically placed across various nodes of the Chilean National Electric System (SEN), offering substantial geographic diversification and optimization potential for the grid. The total consideration for the acquisition stands at approximately USD 815 million. The BESS facilities are anticipated to fully operate by early 2026, upon which Glenfarne's overall portfolio in Latin America, covering Chile, Panama, Colombia, and Costa Rica, will surpass 3.1 GW of power generation and 1.61 GWh of battery storage.

Industry Overview in Chile

Chile continues to lead the energy sector in Latin America, particularly in renewable energy investments. The country has made significant strides in transitioning towards sustainable energy sources, notably solar and wind power. With an abundance of natural resources, Chile has become an attractive destination for foreign investment, especially in industries focused on renewable energy and mining. The government actively supports these sectors through favorable policies and incentives aimed at reducing carbon emissions and enhancing energy efficiency.

The mining industry in Chile plays a crucial role in the national economy, primarily driven by its extensive copper resources. As one of the largest copper producers in the world, the sector attracts global investment and continues to evolve t