Verano Energy Expands 2.5 GW Renewable Portfolio in Chile and Colombia

Key Takeaways

Verano Energy is expanding its renewable energy projects in Chile and Colombia, with over 2.5 GW in development.
The company’s hybrid solar and battery storage projects in Chile include two major initiatives totaling 206 MWp and 1,320 MWh.
In Colombia, Verano’s Chicalá Solar Plant is nearing completion, with plans for additional solar projects in the pipeline.

Expansion of Renewable Energy in Chile

Verano Energy is accelerating its renewable energy initiatives in Chile and Colombia, backed by a robust development pipeline that exceeds 2.5 GW of clean energy projects and over 2 GWh of battery storage capacity. The company operates more than 60 solar power plants across Latin America, with over 800 MWp installed. Though present in Peru and Argentina, Verano’s immediate focus is on Chile and Colombia.

According to Carolina Galleguillos, General Manager for Latin America, Verano’s portfolio also includes over 2,500 MW of renewable projects and significant battery storage, allowing it to address the rising demand for hybrid solutions.

Hybrid Projects in Chile

In Chile, Verano is enhancing its portfolio with utility-scale hybrid solar and battery storage systems. The Domeyko Solar + BESS project combines 83 MWp of solar capacity with 660 MWh of battery storage. Battery installation is complete, and solar construction is 90% finished. This project has garnered USD 204 million in financing and is in partnership with Abastible for a power purchase agreement (PPA).

Another major initiative, the Observatorio Solar + BESS project in O’Higgins Region, will feature 123 MWp of solar and 660 MWh of battery storage. With a projected investment of USD 190 million, it aims for commercial operations in the first half of 2028, backed by a PPA with Copec Emoac. Together, these projects will strengthen Verano’s foothold in Chile’s hybrid energy landscape.

Growth in Colombia

In Colombia, Verano is close to finalizing its inaugural renewable project, the 13 MWp Chicalá Solar Plant in Atlántico. All installations are complete, with an annual electricity generation forecast of approximately 25.9 GWh. The project is financed through the Financiera de Desarrollo Nacional (FDN) and secured by a long-term PPA with AES Colombia.

In addition to Chicalá, Verano is developing the Magdalena portfolio, which includes three solar projects with a combined capacity exceeding 40 MWp and aims to initiate two more utility-scale projects in the next five years. The company emphasizes that battery storage will be essential to its future strategy in Colombia, enhancing grid flexibility and reliability in the renewable sector.

Verano Energy underscores the critical nature of investments in sustainable projects to support Latin America’s energy transition effectively.

The content above is a summary. For more details, see the source article.