Daelim Energy wins $180 million 105MW Chile solar project

Daelim Energy, a Korean energy firm, said on Monday that it has secured a $180 million solar power project in Chile from Spanish company Grenergy Renovables.

The project involves Daelim Energy investing $50 million and raising the remainder through project financing. The company will be operating solar power plants that generate a combined annual 105 megawatts of electricity over 25 years.

A construction unit of Grenergy Renovables will gradually build a total of 12 solar power plants in Chile starting December 2018 in an engineering, procurement and construction contract with Daelim Energy, a company spokesperson said by phone.

The Chile project is Daelim Energy’s first overseas investment in a solar power business. It aims to explore solar power business opportunities in Latin America, the statement said.

Daelim Industrial owns a 70 percent stake in Daelim Energy. Corp.

Yonhap