Yinson Renewables has successfully concluded the acquisition of the 97 MWp Matarani Solar Project located in the Mollendo desert, Arequipa region, Peru, from Grenergy Renewables, a prominent independent power producer in Latin America. This strategic move marks a significant step for Yinson Renewables in expanding its foothold in the Latin American renewable energy market.
The Matarani Solar Project, currently under construction, is expected to begin commercial operations by the third quarter of 2024. Securing a power purchase agreement (PPA) for the majority of its energy output for the next 15 years, the project is poised to inject approximately 260 GWh of renewable energy into Peru's grid annually, catering to the energy needs of approximately 62,000 households and significantly reducing CO2 emissions.
Commenting on the acquisition, Yinson Renewables' CEO, Mr. David Brunt, highlighted its importance as a pivotal milestone in the company's expansion strategy in Peru and Latin America at large. With strong growth ambitions in the region, Yinson Renewables is not only focusing on Project Matarani but also controls Project Majes nearby, while actively seeking additional opportunities in the country. The Matarani Project signifies Yinson Renewables' inaugural operating venture in South America, with plans for a pipeline of nearly 1 GW to be developed over the next three to five years, adding to its portfolio of large-scale IPP projects globally.
Yinson Renewables' acquisition of the Matarani Solar Project underscores its commitment to sustainable energy initiatives globally and marks a significant contribution towards Peru's renewable energy goals, positioning the company as a key player in the region's renewable energy landscape.
Source: solarquarter.com