Akuo and Atlantica Sustainable Infrastructure announced that they have closed the financing and started the construction of a portfolio, composed of nine photovoltaic power plants with a total capacity of 80 MWp. Located in the Regions of Maule (VII), Nuble (XVI), Araucania (IX) and Biobio (VIII), the projects are all situated in the south of Santiago de Chile. Once commissioned, the portfolio will deliver enough electricity to power close to 60,000 households.

They will avoid the emission of over 60,000 tons of CO2 each year of operation and provide a sustainable and local source of clean electricity. These nine solar farms will help the country to diversify its electricity mix which currently depends heavily on fossil fuels. Chile has an ambitious goal of converting 70% of its total energy consumption to renewables by 2030, with strong citizen support: 91% of Chileans believe that climate change should be treated as a government priority, according to the Yale Program for Climate Change Communication.

The portfolio benefits from the country's PMGD (Pequenos Medios de Generacion Distribuida) regime. Akuo and Atlantica Sustainable infrastructure are the equity sponsors whereby the debt financing is provided by DNB. The Engineering, Procurement and Construction activities for the realization of the nine solar plants will be performed by Italian engineering player MAIRE Group, that also acted as co-developer of the initiatives, through its Integrated E&C Solutions business unit.