- Yinson Holdings and Verano Capital will co-develop more than 800 MW solar power project portfolio
- Projects will be located in Latin America’s Chile, Colombia and Peru
- Initial 100 MW capacity is expected to be approved for construction within next 6 months to 12 months
- Partners claim strategic location of 330 MW capacity under planned portfolio will enable them to offer attractive power offtake prices
A new solar power partnership has emerged with Chile based renewable energy developer Verano Capital Holdings and Malaysia headquartered Yinson Holdings Berhad announcing a renewable energy collaboration, which will initially target to progress a utility scale solar power project pipeline of over 800 MW in Latin America.
The regional focus of the collaboration will be in 3 promising Latin American solar markets of Chile, Colombia and Peru. Of the 800 MW capacity, the partners claim 330 MW is expected to be approved within next 6 to 12 months. “Due to their strategic locations, these projects are anticipated to enable Yinson and Verano to offer attractive power offtake prices to energy buyers,” said the companies in a joint statement without revealing the location details.
Construction on the initial 100 MW capacity is likely to commence within next 6 months, subject to Yinson’s final investment decisions. “This collaboration with Verano represents a unique opportunity to drive our expansion in renewable energy and take part in the continent’s vast growth in the green energy space,” said Yinson CEO David Brunt.
Yinson is into the partnership with Verano Capital through its wholly-owned subsidiary Yinson Renewables Pte. Ltd. that came into being in 2019 and targets to become one of the leading clean energy independent power producers (IPP) globally. A floating, production, storage and offloading business house, Yinson Holdings wants to position renewables as a major revenues stream for the group.
Verano Capital holds a portfolio of over 1 GW renewable energy capacity, all comprising solar power plants.
Recently EDP Renewables entered the Chilean renewable energy market with 628 MW wind and solar portfolio acquisition (see EDPR Forays Into Chilean Renewable Energy Market). Colombia too is growing strong having launched its 3rd renewable energy auction in June 2021 (see Colombia Launches 3rd Renewable Energy Auction).