Daelim Energy acquires $180 mln solar power business in Chile

By Lim Chang-won Posted : December 3, 2018, 13:24 Updated : December 3, 2018, 13:24


SEOUL -- Daelim Energy, an energy and infrastructure development company in South Korea, has acquired a $180 million solar power business license in Chile from Grenergy Renovables, a Spain-based company engaged in a number of renewable energy projects in Latin America.

Daelim Energy said Monday it would make a direct investment of $50 million with the remainder to be raised through project financing. The company would operate solar power plants capable of generating 105 megawatts of electricity for 25 years. It would be the South Korean firm's first investment in a solar power business abroad.

In Chile, a local construction company is responsible for building 12 solar power plants by March 2020. Construction will begin this month in a contract with Daelim Energy, which has expanded its presence in the energy market and operates wind power facilities in Pakistan.
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