Invests in Solar Generation Assets Under EnfraGen Subsidiary Fontus Renewables Increasing Contribution to the Energy Transition Trend Across Latin America
NEW YORK and SANTIAGO, CHILE – March 18, 2021: EnfraGen, LLC (“EnfraGen”), a developer, owner, and operator of specialized sustainable and renewable power and grid stability assets in Latin America owned by leading global private markets firm Partners Group, on behalf of its clients, and Glenfarne Group, LLC (“Glenfarne”), announced today an expansion of its renewables business through new investments in solar energy generation assets, which further enhance EnfraGen’s infrastructure market leadership in the energy transition.
EnfraGen, through its Fontus Renewables division, has recently acquired ten ready-to-build solar photovoltaic (PV) projects and three nine-megawatt operating solar PV plants, all of which are located in Chile.
EnfraGen also announced it has entered into EPC contracts with Metka – EGN Limited and its Chilean subsidiary Metka EGN Chile SpA, as well as with Elecnor S.A. and its Chilean subsidiary Elecnor Chile S.A., to construct the ten ready-to-build projects. EnfraGen has provided Metka and Elecnor with a limited notice to proceed beginning the construction process.
The ten projects, once completed and in operations, will total approximately 90 MWac installed capacity and when combined with the newly acquired and existing operating projects owned by EnfraGen, the portfolio totals 126 MWac. All projects will qualify for Chile’s stabilized price regime as PMG/PMGD plants and add to EnfraGen’s existing value-added renewable power business, Fontus Renewables.
Brendan Wolters, Head of Solar for Fontus Renewables said, “Chile has some of the greatest potential for solar photovoltaic power generation in the world and an energy policy designed to support its advancement. Fontus Renewables’ solar efforts leverage our existing capabilities and expertise in the region and contribute to Chile’s energy transition to renewable power.”
Ed Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, adds, “EnfraGen continues to grow as a premier platform of renewable power and grid stability assets in Latin America, providing essential renewable solar power to local communities. We are proud of the significant transformation the business has gone through to date, as well as the broad positive impact it has by securing sustainable power for the region. Partners Group looks forward to further supporting EnfraGen’s growth and leadership in the transition to a more sustainable future.”
“The acquisition of these 13 solar assets marks another significant milestone for the EnfraGen business, which has grown into one of the pre-eminent power businesses in Latin America”, said Brendan Duval, Chief Executive Officer of EnfraGen, LLC and Founder and Managing Partner of Glenfarne Group, LLC. “Chile has made great strides to incorporate renewable energy sources into its power grid in recent years and we see further growth potential to enhance our power infrastructure portfolio in Latin America going into 2021 and beyond.”
About EnfraGen, LLC
EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin American investment-grade countries. EnfraGen’s grid stability assets supply flexible capacity and energy to local and regional grids in support of renewable power plant intermittent energy production. EnfraGen’s renewable plants are smaller scale, distributed solar photovoltaic and hydroelectric assets that take advantage of unique access points to electrical infrastructure or are located in optimized geographical locations. The business’ mission is to support the transition to zero-carbon emission electric grids.
EnfraGen is jointly controlled by Glenfarne Group, LLC, and global private markets investment manager Partners Group, on behalf of its clients, and has operational and in-construction assets across its subsidiaries totaling over 1.7GW of installed capacity in operation. The company, including its affiliates and subsidiaries, is supported by a team of approximately 325 professionals. EnfraGen maintains offices and assets in Chile, Panama, Colombia, and the United States.
About Glenfarne Group, LLC
Glenfarne is a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas with offices in Dallas, Texas, Panama City, Panama; Santiago, Chile, and Bogota, Colombia. Glenfarne’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy and infrastructure assets throughout North and South America and Asia. For more information, please visit www.glenfarnegroup.com.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.