Grupo Cerro Renewables Platform Launched by EIG

Global energy sector investor based in Washington, EIG launched Grupo Cerro, a new renewable energy platform in Chile.

July 01, 2022. By News Bureau

Global energy sector investor based in Washington, EIG launched Grupo Cerro, a new renewable energy platform in Chile.

This new venture includes Cerro Dominador plants, owned by EIG, and the recently acquired ANPAC, the owner of a portfolio of 11 small and medium run-of-river hydroelectric power plants in the O’Higgins, El Maule, Bio Bio and La Araucania regions.

After the acquisition, Grupo Cerro manages over 280 MW of installed capacity in Chile, including the Cerro Dominador Photovoltaic (PV) and Concentrated Solar Power (CSP) plants.

R. Blair Thomas, Chairman and CEO, EIG, said, “The transaction is expected to provide portfolio synergies, create operating efficiencies and enhance technological and geographic diversification for Grupo Cerro. After the completion and synchronization of the ground-breaking Cerro Dominador solar power plant in 2021, the first CSP project in Latin America, this transaction marks another significant milestone in our strategy to invest in high-quality assets, best-in-class teams and energy infrastructure supporting the energy transition in Chile.”

The group’s portfolio also includes several projects in advanced phases of construction and development, including the Likana Solar complex, one of the largest CSP projects in the world.

Fernando Gonzalez, CEO, Grupo Cerro, said, “This transaction advances our commitment to Chile’s growth. These plants, combined with our Likana Solar and Pampa Union projects now under development, will help diversify our renewable energy portfolio geographically to be able to further secure low-cost renewable energy production for the Chilean market and continue supplying clean power throughout the country 24 hours a day.”

The 110 MW ANPAC portfolio comprises operating plants and projects at various stages of construction and development in both the spot and stabilized-tariff markets.

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Hydroelectric power plant

Solar power