SunPower, one of the world’s leading solar companies, has announced this week it has sold off the 110 megawatt Pelicano Solar Plant in Chile to leading investor Actis. 

SunPower announced on Thursday that Actis had acquired the Chilean 110 MW (megawatt) Pelicano Solar Plant in the municipality of La Higuera (Coquimbo Region) near Vallenar (Atacama Region), which is expected to deliver 300 gigawatt-hours (GWh) each year of electricity to the Metro de SantiagoSantiago’s underground railway system.

The Pelicano Solar Plant was completed on January 11, and Metro de Santiago will purchase the electricity generated by the project under a Power Purchase Agreement (PPA). 

“With a supportive regulatory environment and abundant solar resource, Chile is a market we know extremely well through our investments in the Aela Energía and Atlas Renewables platforms,” said Javier Areitio, director at Actis. “We are confident that in partnership with Metro de Santiago and SunPower, the El Pelicano plant will be a terrific illustration of clean, sustainable energy for many years to come.”

The move by Actis joins existing Chilean investments, including in the 1.2 GW (gigawatt) Pan-Latin American renewable energy platform and other plans which is targeting 330 MW worth of renewable energy.

“Actis is focused on sustainable value, which makes the El Pelicano Solar Plant a great fit for its portfolio,” said Chuck Boynton, SunPower chief financial officer. “High performance SunPower Oasis technology is designed to cost-effectively maximize power generation for decades. Forward-looking organizations like Actis and Metro de Santiago are a global model for the development of solar power, reducing reliance on unsustainable energy sources.”