Innergex and Energía Llaima Acquire $62m PV Solar Power Plant in Chile

Innergex Renewable Energy, a Canadian renewable energy company, and Chile’s Energía Llaima have acquired the 68-MW Salvador solar power plant in Chile, including a power purchase agreement (PPA) based on a 11-year demand with Empresa Eléctrica ERNC 1 S.A, a power trading company, to Innergex. The deal closed May 14th.

The transaction included the purchase of 100% of the outstanding shares of PV Salvador SpA from Total, Etrion and Solventus and indirectly through PV Salvador of 100% shares of ERNC I S.A. sold by Bci, and the prepayment of $62m in credit to OPIC.

Located in the Atacama Desert, the Salvador solar park is expected to generate 182 GWh per year, which would satisfy the s of more than 70,000 local households annually. The purchase will be financed through revolving credit facilities.

Honorato Delaveau served as legal counsel to Innergex and Energía Llaima, with a team led by partner Gonzalo Delaveau and associate Juan Andrés Larrando.

Claro y Cía acted for Total, Etrion, Solventus y OPIC with a team head by partner Rodrigo Ochagavia, assisted by associates Jaime Salas and Trinidad Rojas.

Energia Llaima was also advised by in-house lawyer Patricia Silva while Cathy Villeneuve acted as Innergex Renewable Energy’s representative.