Verano Energy, a solar project developer in Latin America, has invested an undisclosed sum to acquire 15 projects in Chile from local developers.

Verano said the projects, which total 116MWp, are located in 5 regions across Chile and range from 2.5MWp to 11MWp in size.

The projects are being developed under the PMGD programme, Chile’s special regime for distributed generation projects.

Verano said the latest acquisition gives the firm a project pipeline of more than 1.5GWp in Chile alone and positions Verano as the leading renewable energy project developer in the Latin American market.

Dylan Rudney, CEO of Verano Energy, said: “Ever since launching the company 10 years ago, our ambition has been the same; to play a leading role in the development of the country’s solar sector.

“We were early movers in Chile’s PMGD market, and we have significantly scaled up our portfolio in recent years and with these latest acquisitions, our pipeline of projects is now one of the largest in the region.

“This success reflects our M&A team’s skill and experience across all aspects of solar project development. Combining in-house developments with external acquisitions allows us to scale our portfolio much faster.”

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