Copec bags 123-MWp solar farm from bankrupt firm in Chile

Copec SA, part of Chilean energy and natural resources business group Empresas Copec, has scored a 123-MWp solar farm and associated power infrastructure located in Pozo Almonte in the Tarapaca region of Chile from a bankrupt firm of Spanish origin.

Copec is acquiring the solar farm, named Granja Solar, an electrical substation within the solar farm, a connection panel, and a 23.4-km (14.5 miles) transmission line for USD 91.05 million (EUR 85.2m), the company said in a stock market filing on Monday.

The assets were previously owned by Maria Elena Solar SA, which is in liquidation, and were awarded to Copec in that firm’s bankruptcy proceedings.

The purchase is subject to approval by the 23rd Civil Court of Santiago, Copec said.

The company will fund the acquisition using its own funds through its renewables unit Copec Renovables SpA.

Maria Elena Solar SA was a special purpose vehicle of Spanish solar developer Solarpack, which brought the Granja solar farm online in March 2020. Maria Elena Solar went under in April 2023, Chilean newspaper La Tercera reported.

(USD 1.0 = EUR 0.936)

Choose your newsletter by Renewables Now. Join for free!