Feb 14, 2022
Solek Group, an experienced vertically integrated developer, owner and manager of solar power plants, through its Chilean subsidiary SOLEK Latam Holding SpA has signed a framework agreement to develop, build and sell solar projects in Chile to BlackRock's Global Renewable Power Fund III (GRP III). As part of this transaction, SOLEK will also oversee the operation and maintenance services for the projects and Aediles Capital Inc. will oversee Asset Management on behalf of BlackRock Global Renewable Power Fund III.
"BlackRock is a leading investor in renewable power globally, which means we are entering into a relationship with a stable and renowned partner who will create a long-term outlet for our services. This is an important strategic step towards establishing cooperation with leading infrastructure investors, who are key to the further growth of SOLEK Group, not only in Chile but also in other countries," said Zdenek Sobotka, founder and CEO of the SOLEK Group.
The deal enables SOLEK Group to develop up to 28 individual photovoltaic power plant projects with an aggregate capacity of up to 200 MW. The firm will take care as well of their operation and provide regular maintenance and prompt professional servicing. Each project will be constructed and connected under the Chile's PMGD/PMG (distributed generation projects) programme, which is one of the pillars of the country's strategy to become carbon neutral by 2050. Solar power plant projects with a total installed capacity of 90.5 MW are already under preparation phase of construction. These projects also serve regions with high demand for electricity due to growing populations and a developed mining industry.
"We look forward to working closely with Solek experienced and active team in Chile," said David Orellana, Aediles Capital Inc. Partner.
"Large investors of this type can fully appreciate the long-term and stable return on energy investments. For us, it is also an expression of trust in the long-term conceptual work of all SOLEK Group teams," added Zdenek Sobotka.