Energy sector investor EIG has announced the launch of Grupo Cerro, a new renewable energy platform in Chile, which includes EIG-owned Cerro Dominador plants and the recently acquired ANPAC, the owner of a portfolio of 11 small and medium run-of-river hydroelectric power plants in the O’Higgins, El Maule, Bio Bio and La Araucania regions.
The 110MW ANPAC portfolio includes operating plants and projects at various stages of construction and development in both the spot and stabilized-tariff markets. Following the acquisition, Grupo Cerro now manages over 280MW 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 phases of construction and development, including the Likana Solar complex, one of the largest CSP projects in the world with a capacity of 690MW, Pampa Union, a 600MW PV power plant, as well as more than 40MW of run-of-river hydroelectric power plants.
“The transaction is expected to provide portfolio synergies, create operating efficiencies and enhance technological and geographic diversification for Grupo Cerro,” commented Blair Thomas, EIG’s Chairman and CEO. “After the completion and synchronization of the ground-breaking Cerro Dominador solar power plant in 2021, the first CSP project in Latin America, this transaction marks another significant milestone in our strategy to invest in high-quality assets, best-in-class teams and energy infrastructure supporting the energy transition in Chile.”