CMS Carey & Allende advised Verano Capital on the agreement with Yinson Renewables for the joint development, sale and construction of over 800 MW solar portfolio located in Chile, Peru and Colombia. The projects that compose the portfolio are currently under development and the first 100 MW aim to begin construction on the first 100MW within the next 6 months. Due to their strategic locations, these high-quality projects are anticipated to enable Yinson and Verano to offer attractive power offtake prices to energy buyers.
The transaction includes a framework agreement that regulates the development of the portfolio until its ready to build, a share purchase agreements and an EPCM agreements for each of the projects composing the portfolio.
Founded in 2012 Verano Capital is an international energy company specialized in the development, construction, operation, maintenance and financing of primarily renewable energy projects in Latin America, particularly in Chile, Argentina, Peru and Colombia. Verano has an existing renewables portfolio that exceeds 1 GW of capacity, including 23 sold projects in operation generating 284,900 MWh of electricity per year. This is the second transaction for Verano in recent months following the agreement with Matrix Renewables for 154MW of solar projects. (Este deal también te lo reporte a principio de año)
CMS Carey & Allende team: Fernando De Cárcer (lead partner) and Sebastián Barros (senior associate)
Date: 21 June 2021