EIG launches a renewable energy platform that includes ANPAC’s acquisition of 11 run-of-the-river hydroelectric plants, as well as existing Cerro Dominador plants, supporting 24/7 renewable energy generation
Washington, DC, USA/Santiago, Chile.- — EIG, an institutional investor in the global energy sector and one of the world’s leading infrastructure investors, today launched Grupo Cerro a new renewable energy platform in Chile. The newly formed entity includes the Cerro Dominador plants, owned by EIG, and the recently acquired ANPAC, owner of a portfolio of 11 small and medium run-of-the-river hydroelectric plants in the O’Higgins, El Maule, Bio Bio and La Araucanía regions. ANPAC’s 110 MW portfolio includes plants in operation and projects in various stages of construction and development in both the spot market and the stabilized rate market.
Following the acquisition, Grupo Cerro now manages more than 280 MW of installed capacity in Chile, including the Cerro Dominador photovoltaic (PV) and concentrated solar power (CSP) plants. The group’s portfolio also includes several projects in advanced stages of construction and development, including the Likana Solar complex, one of the world’s largest CSP projects with a capacity of 690 MW, Pampa Unión, a 600 MW photovoltaic power plant , as well as more than 40 MW of run-of-the-river hydroelectric plants.
Blair Thomas, President and CEO of EIG, said: “The transaction will provide portfolio synergies, creating operational efficiencies and enhancing Grupo Cerro’s technological and geographic diversification. Following the completion and synchronization of the groundbreaking Cerro Dominador solar power plant in 2021, the first CSP project in Latin America, this transaction marks another important milestone in our strategy of investing in high-quality assets, in best-in-class equipment. and in energy infrastructure supporting the energy transition in Chile”.
Fernando González, CEO of Grupo Cerro, remarked that “this transaction ratifies our commitment to the growth of Chile. These plants, combined with our projects under development, Likana Solar and Pampa Unión, will help us geographically diversify our renewable energy portfolio in order to further ensure the production of low-cost renewable energy for the Chilean market and continue to supply clean energy throughout the country 24 hours a day.