Sky Solar acquires 24MW solar projects in Chile

Hong Kong-based Sky Solar Holdings has acquired a 24MW portfolio of 'Small Generator' solar projects developed by Italian smart energy company Renergetica.

The acquired portfolio consists of three shovel-ready projects, located in Chile’s Region VI, construction of which is expected to begin in the near future. 

Renergetica is focused on the development of renewable energy systems and hybrid systems around the world.

The Chilean 'Small Generator' programme (PMG), which is available to solar projects of 9MW or less, allows the projects to sell electricity to the grid at a stabilised price.

The price is based on the forecast marginal cost over the next ten years and is set by Chile's national energy commission (CNE) every six months.

It is reported that the project sites were selected for their good solar irradiation, high energy demand and absence of power grid saturation currently affecting the northern regions of Chile.

Sky Solar Holdings chief investment officer Sanjay Shrestha said: "We are excited to work with Renergetica, a leader in solar project development around the world.

"This collaboration further demonstrates our ability to develop solar projects in Chile. We are proud of our continuing execution in the region and look forward to finding more attractive opportunities to build our base of assets in that country.”