SANTIAGO, Chile, January 10, 2023--(BUSINESS WIRE)--EnfraGen, LLC ("EnfraGen"), a developer, owner, and operator of specialized sustainable and renewable power and grid stability assets in Latin America owned by leading global private markets firm Partners Group, on behalf of its clients, and Glenfarne Energy Transition, LLC ("Glenfarne"), has entered into EPC contracts with Verano Energy ("Verano"), to construct eight Chilean solar photovoltaic (PV) projects.
EnfraGen has provided Verano with a notice to proceed beginning the construction process.
The projects, once completed and in operation, will total approximately 76 MWdc (59 MWac) of installed capacity. When combined with the newly acquired and existing operating solar projects owned by EnfraGen, the solar portfolio will total 246 MWdc (185 MWac). All projects will qualify for Chile’s stabilized price regime as PMG/PMGD plants and add to EnfraGen’s existing value-added renewable power business division, Fontus Renewables ("Fontus").
Brendan Wolters, Head of Solar for Fontus said, "We are excited to partner with Verano Energy and move forward with these new eight projects. EnfraGen is focused on contributing to and advancing Chile’s leadership role in the energy transition through renewable power growth and grid stability. These projects exemplify EnfraGen’s mission."
The eight projects are currently owned outside of EnfraGen’s existing senior credit group, which was established following a 2020 refinancing.
About EnfraGen, LLC
EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin America. EnfraGen’s grid stability assets supply flexible capacity and energy to local and regional grids in support of renewable power plant intermittent energy production. EnfraGen’s renewable plants are smaller scale, distributed solar photovoltaic and hydroelectric assets that take advantage of unique access points to electrical infrastructure or are located in optimized geographical locations. The business’ mission is to support the transition to zero-carbon emission electric grids.
EnfraGen is jointly controlled by Glenfarne Energy Transition, LLC, and global private markets investment manager Partners Group, on behalf of its clients, and has operational and in-construction assets across its subsidiaries totaling nearly 1.9 GW of installed capacity The company, including its affiliates and subsidiaries, is supported by a team of nearly 400 professionals. EnfraGen maintains offices and assets in Chile, Panama, Colombia, and the United States.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested USD 185 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 131 billion in assets under management as of 30 June 2022, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,600 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
About Glenfarne Energy Transition, LLC
Glenfarne Energy Transition is a wholly owned subsidiary of Glenfarne Group, a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Rio De Jainero, Brazil; Jakarta, Indonesia; Barcelona, Spain; Seoul, South Korea; and Ho Chi Minh City, Vietnam. Glenfarne Energy Transition aims to address the "here and now" global energy transition through three core businesses: Global LNG Solutions, Renewables, and Grid Stability. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America, Asia, and Europe. For more information, please visit www.GlenfarneEnergyTransition.com.
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