LatinNews Daily - 30 June 2022

In brief: New renewable energy company launches in Chile

*Grupo Cerro, a new renewable energy platform, will be launched in Chile by US-headquartered EIG Global Energy Partners, an investor in the global energy sector. The newly-formed entity includes the EIG-owned Cerro Dominador photovoltaic and concentrated solar power (CSP) plants in Antofagasta region, and 11 small and medium run-of-river hydroelectric plants that belong to Chilean sustainable energy company Anpac, recently acquired by EIG. Anpac’s plants are located in O’Higgins, El Maule, Biobío and La Araucanía regions. With this portfolio, Grupo Cerro will manage more than 280 megawatts (MW) of operating projects throughout Chile and a 1.3-gigawatt (GW) development pipeline. In a press release, the CEO of Grupo Cerro Fernando González said, “this transaction advances our commitment to Chile’s growth. These plants… will help diversify our renewable energy portfolio geographically to be able to further secure low-cost renewable energy production for the Chilean market.” As a result of the 2015 Paris Agreement on climate change, Chile is aiming to phase out coal-fired power plants by 2040 as part of its goal to reach carbon neutrality by 2050.

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