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Blue Elephant Energy expands its portfolio in Chile to 161 MW – EQ Mag Pro

Blue Elephant Energy expands its portfolio in Chile to 161 MW – EQ Mag Pro


The Hamburg-based solar and wind farm operator Blue Elephant Energy AG (BEE) has contracted four more PV projects in Chile with a total capacity of 44 MW on 17 March 2022. Two projects with a capacity of 20 MW were acquired from the Finnish investment company Korkia and MoonValley Capital.

In addition, Chilean developer and EPC oEnergy Generación Solar Distribuida SpA (oEnergy) is contributing further 24 MW. The portfolio with a total capacity of 44 MW will be build as part of a joint venture with oEnergy. The total portfolio of BEE in Chile thus increases to 161 MW.

The portfolio is distributed across the regions of Valparaíso, Metropolitana de Santiago, Libertador General Bernardo O’Higgins, Maule and Biobío. Thus, the projects are a fitting addition to BEE’s existing 117 MW portfolio in these regions. The four projects have been transferred ready to build and are scheduled to be commissioned by the end of 2022.

“We are pleased to be able to further expand our portfolio in Chile to 161 MW”, comments Tim Kallas, Chief Investment Officer of Blue Elephant Energy. “We see great potential in Chile to drive renewable energy projects supporting the continent on its path to carbon neutrality. With this project we can further contribute to our overarching commitment towards a greener future.”

Yuri Andrade, Partner and Head of Business of oEnergy says: “This is a great opportunity to strengthen our relation with Blue Elephant Energy, and for continuing on growing our portfolio with international partners who believe in our vision and capabilities.”

About Blue Elephant Energy AG:

Blue Elephant Energy AG (BEE) develops, acquires, and operates solar parks and wind farms in eight countries with a focus on Western-Europe. Founded in 2016, BEE is currently operating a renewable energy portfolio of 1,266 MW, part of which is under construction. BEE´s renewable energy assets contribute to a sustainable energy supply by saving 800,000 tons of CO2 annually and providing 335,000 households with clean energy. As part of its ESG strategy BEE directly contributes to social projects on a local level, particularly in Chile and in the Dominican Republic. BEE has secured around 1.500 MW of further solar farm capacity in the context of (co)-development agreements with a limited range of developers. With equity provided by BEE’s shareholders and participation rights capital provided by medium sized insurance companies, BEE has been able to invest around EUR 1.5 billion since inception.

About oEnergy Generación Solar Distribuida SpA (oEnergy):

oEnergy Generación Solar Distribuida SpA is a Chilean private joint stock company founded in 2013. oEnergy aims to create value for its investors and democratise the Chilean wholesale and retail energy market through the development, construction, operation and ethical investment in distributed generation. oEnergy has 135 MWp of capacity connected or under construction and a further 200 MWp of projects under development. oEnergy currently employs almost 200 professionals and operates 31 PMGD projects.

Anand Gupta Editor - EQ Int'l Media Network