Chile Welcomes Pacific Hydro’s First Solar Park with US$260 Million Investment

The Chinese-owned energy company, Pacific Hydro, has officially begun construction of its first solar park in Chile, located in the Atacama Desert. The project aims to supply electricity equivalent to that of 500,000 homes per year. The park will have an installed capacity of 293 MW and a plant factor of 36%, resulting in a reduction of 230,000 tons of carbon. It will also contribute to the country’s energy infrastructure and create job opportunities for around 400 people. The company is committed to minimizing environmental impacts and has incorporated suggestions from local communities into the development process.

The groundbreaking ceremony was attended by local authorities, including the mayor of the Municipality of Tierra Amarilla, as well as representatives of the company and InvestChile. Renzo Valentino, CEO of Pacific Hydro Chile, expressed pride in participating in the ceremony and highlighted the company’s commitment to decarbonizing the country’s energy matrix. Catalina Pérez, Head of the International Network at InvestChile, confirmed that Pacific Hydro has played a key role in the local community and emphasized the agency’s close collaboration with the company.

Since 2002, Pacific Hydro has been generating clean energy in Chile through its hydroelectric plants in the O’Higgins Region. In 2018, the company opened its first wind farm, Punta Sierra. Pacific Hydro is owned by State Power Investment Corporation (SPIC), one of the largest power generation groups in China with a total installed capacity of approximately 210 GW.

For more information on renewable energy investment opportunities in Chile and how foreign companies contribute to decarbonization, check out the following article.

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