- The deal involves a photovoltaic asset portfolio of approximately 416 MW for a total consideration of 550 million US dollars.
- The deal will be completed after obtaining the approval of the Chilean antitrust authority Fiscalía Nacional Económica (FNE), among other conditions.
Santiago, July 12, 2023 - Enel Chile signed an agreement with the international renewable energy company Sonnedix to sell its subsidiary Arcadia Generación Solar S.A. This company owns four operating photovoltaic plants in the regions of Atacama and Antofagasta, with a total installed capacity of 416 MW. The closing of the sale is subject to certain conditions precedent customary for these kinds of transactions, including the clearance from the FNE, the the Chilean antitrust authority.
Under the agreement, Sonnedix will pay a total consideration of 550 million US dollars for Enel Chile's entire stake in Arcadia Generación Solar S.A., subject to a standard price adjustment for this type of transaction. Arcadia Generación Solar S.A. will continue to supply energy to the Enel Group through a power purchase agreement (PPA) for part of these plants' production.
The P.V. plants making up the portfolio are Diego de Almagro (36 M.W., operational since 2014), Carrera Pinto (97 M.W., operational since 2016), Pampa Solar Norte (79 M.W., active since 2016), and Domeyko (204 MW, operational since 2022), which together generate close to 1 TWh/year of net production.
The transaction aligns with Enel Chile's Strategic Plan, as it contributes to creating value by diversifying and optimizing the capital and portfolio of Enel Chile and its subsidiaries.
Sonnedix is an international renewable energy producer with over a decade of experience developing, constructing, and operating long-term renewable energy projects, supplying sustainable electricity to its customers. Sonnedix currently has a total capacity of more than 9,000 MW, including a development portfolio of more than 6,000 MW in Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, the U.S., and the United Kingdom. The company focuses on acquiring and developing renewable energy projects in OECD countries.
Enel Chile is, by installed capacity, the country's largest electricity holding company. It has 8,408 MW of net capacity as of December 31, 2022. The generation assets are diversified, with a focus on renewable energies, which represent 76% of Enel Chile's total consolidated capacity: 3,508 MW correspond to hydroelectric generation units, 2,042 MW to solar plants, 725 MW to wind generation units, 83 M.W. to geothermal capacity and 2,050 MW to thermal plants operating with gas or oil.
Enel Chile also has its subsidiary Enel Distribución Chile S.A., which operates in the concessioned energy distribution sector and serves more than 2 million customers in 33 municipalities in the Metropolitan Region. The holding company is also in the business of advanced energy solutions through its subsidiary Enel X Chile S.A.