Vector Renewables signs new agreement for the management of 64 MW of photovoltaic power in Chile

Vector Renewables, as a prominent independent advisor in renewable energies with over 15 years of experience, solidifies its presence in Chile following the recent signing of an agreement with the investment and development company OBTON for the management of assets of its first photovoltaic solar plants in the country and Latin America, with a total capacity of 64 MWp.

The portfolio comprises seven photovoltaic projects in PMG(D) format, located in the O'Higgins, Maule, and Metropolitan regions, with the latter being the most populated and, therefore, close to demand. PMGDs in Chile benefit from very favorable conditions, as they have a stabilized tariff to inject energy into the grid and the ability to dispatch their energy, directly supporting the country's accelerated energy transition process.

With this new contract, Vector Renewables strengthens its project portfolio in Chile, reaching 810 MW of management and consolidates its presence in the country. Patricia Darez, Country Manager of Vector Renewables, commented, "For us, Latin America is key, and this new contract with OBTON will allow us to manage 0.8 GW of photovoltaic projects in Chile, adding to the over 5 GW of assets that Vector has worldwide. This alliance, in addition to reaffirming the interest that international companies have in the development of the renewable sector in Chile, also solidifies our position as leaders in Asset Manager and Independent Advisor in the country."

"This alliance strengthens our position as leaders in Asset Management and Independent Advisory in the country,"

Jens Koefoed, Asset & Operation Manager at OBTON, added regarding this new agreement, "We are very excited about the start of our first operations in Chile and Latin America through this new PMGD portfolio deployed in different regions of the country. To carry out these projects, we needed a technical and commercial team with extensive experience in the market and of the highest caliber, which is why we trust Vector Renewables as a partner in Chile"

In the framework of this contract, and in the role of Technical Asset Manager, Vector Renewables will oversee OBTON's assets in Chile through technical and commercial asset management services. Among the provided services, the international renewable energy advisory company will supervise accounting, financial reporting, and project financing management. On the technical side, Vector will support OBTON in performance analysis and monitoring, operation and maintenance (O&M) oversight, energy asset management, and periodic visits to the plants to develop technical reports on their performance.

About OBTON: A Danish investment and development company that has been involved in the photovoltaic solar energy business for over 14 years, accumulating extensive experience and knowledge in the various processes involving the development, investment, financing, and operation of photovoltaic solar parks. To date, the company has completed deals resulting in more than 1,400 photovoltaic projects, mostly in Europe.

With this portfolio, set to commence operations from October this year until the end of 2024, OBTON ventures into Latin America, while this contract consolidates the presence and positioning of Vector Renewables in Chile, where it has a solid track record in providing technical consulting services and asset management for the renewable energy industry.