| Press release 10 May 2018 | |
EDF finalises the acquisition of 750 MW of active generation capacity (gas and peak demand) to support the development of its renewable energy business in Chile
On the 10th of May 2018, the EDF Group - in a joint venture with the Chilean electricity company AME - finalised the agreement it signed with AES Gener for the acquisition of 750MW of flexible generation capacity (gas and peak demand). These assets will enable the EDF Group to further develop renewable energy projects in Chile by compensating for fluctuations in wind and solar output.
The transaction involves the Nueva Renca natural-gas combined-cycle power plant (379 MW) and three peak-demand combustion turbines: Los Vientos (132 MW), Santa Lidia (139 MW) and Renca (100 MW). These assets are jointly held with AME and 75% of the transaction has been financed through a variety of bank loans. EDF and AME are planning to upgrade these assets in order to maximise their efficiency and environmental performance.
Through this joint acquisition, EDF and AME are strengthening their collaborative relationship and their position on the Chilean electricity market. Both companies are already partners in the Santiago Solar power plant (115MWp) and in a gas-to-power project comprising a combined-cycle plant ( Central el Campesino ) and a LNG storage/regasification infrastructure ( GNL Penco ).
The development of renewables combined with peak-demand capacity is one of Chile's key energy-transition strategies. The country is seeking to increase the proportion of renewables in its energy mix to 60% by 2035 while also phasing out coal-fired plants by 2050.
Marianne Laigneau, Group Executive Vice-President in charge of the International Division: "With this acquisition, the EDF Group is consolidating its position in Chile and is acquiring flexible assets in order to deliver on the expansion of its solar business, which it has already embarked upon with its partner AME. Chile is one of the key countries where EDF is expanding its business in line with its CAP2030 strategy which seeks to triple our business outside of Europe by 2030. We are extremely proud to be supporting the country with the successful delivery of its energy transition".
The EDF Group in Chile
The EDF Group is active in Chile, where it is involved in renewable energy generation and in the provision of energy services:
- Bolero solar plant (146 MWp): jointly owned by EDF Renewables Chile and Marubeni, its Japanese partner. Its annual output equates to the power used by 191 000 Chilean households over a one-year period. It comprises 475 000 photovoltaic modules equipped with trackers to follow the course of the sun. It covers an area of more than 500 hectares. Located in the Atacama Desert, it has the world's highest levels of solar irradiance.
- Cabo Léones: 115-MW wind farm jointly and equally owned by EDF Renewables Chile and the Spanish developer of renewable energy facilities, Ibereólica. It is located on the coast in northern Chile's Atacama region and comprises 55 turbines, each with a capacity of 2.1 MW.
- Santiago Solar: 115-MWp solar park located 50 km to the north of the country's capital, right at the heart of Chile's most densely populated energy-consumption area. Comprising approximately 400 000 modules, it covers an area of more than 200 hectares. Its annual output equates to the power used by 90 000 Chilean households. The facility is jointly and equally owned by EDF Renewables Chile and AME.
- Public lighting: Through its subsidiary Citelum, the EDF Group controls 13% of Chile's public lighting market and manages 14 public-lighting contracts equating to 150 000 street lights, including 35 000 in Santiago de Chile.
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A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 35.1 million customers, of which 26.5 million in France. The Group generated consolidated sales of €70 billion in 2017. EDF is listed on the Paris Stock Exchange.
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