South America: Verano and Yinson to Develop 800 MW Solar Projects

Santiago de Chile, Chile - Chilean project developer Verano and Malaysia-based Yinson Renewables Pte Ltd have agreed to collaborate on renewable energy projects in Chile, Colombia and Peru.

The collaboration initially aims to advance a pipeline of over 800 MW of utility-scale solar projects, of which 330 MW are expected to be approved in the next 6 to 12 months.

Verano Capital has been developing renewable energy projects in Latin America for almost a decade. Currently, Verano has a portfolio of more than 1 GW (1,000 MW) of capacity. To date, 23 projects sold are in operation. This is the second transaction for Verano in recent months, following its recent agreement with Matrix Renewables for 154 MW of solar projects.

Yinson Renewables became a standalone company in 2019, part of the Yinson Holdings Berhad Group based in Kuala Lumpur, Malaysia. Yinson Renewables aims to become one of the leading independent power producers (IPPs). Since acquiring its first operational renewable energy plant, the 140 MW Bhadla solar plant in India, Yinson has further expanded its portfolio with the 190 MW Nokh solar plant under construction, also in India.

Subject to Yinson's final investment decisions, Yinson and Verano intend to initially commence construction of the first 100 MW of PV capacity within the next 6 months.

Source: IWR Online, 30 Jun 2021