The Quebec company Innergex continues its ascent in Chile with the signing of an agreement to acquire all of the shares in Aela’s portfolio of wind farms.
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With this $871 million transaction, the Longueuil-based company could become one of the largest producers of exclusively renewable energy in the South American country.
Aela’s portfolio includes three operating wind farms representing 332 megawatts of power in Chile. A profit of $85 million is expected for the 12 months following the closing of the transaction.
“The acquisition builds on Innergex’s disciplined growth strategy in Chile that we have implemented since entering the market in 2018 and provides an opportunity to unlock the full value of our portfolio. current Chilean,” said Michel Letellier, President and Chief Executive Officer of Innergex, in a press release.
This agreement marks the sixth investment by Innergex in Chile, which already owns half of the shares of EnergíaLlaima and the 140 megawatt Duqueco hydroelectric complex.
An average increase of 3.4% in electricity demand is also forecast by the Chilean national electricity grid coordinator between 2021 and 2041.