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Grenergy Closes With Sonnedix The Construction Of Two New Solar Plants (PMGD) In Chile

Grenergy, the Spanish company producing energy from renewable sources, has signed an agreement with the American Sonnedix for the construction of two PMGD (Small Means of Distributed Generation) solar plants in Chile with a capacity of 18 MWp and a total investment of 17,5 million dollars.

These two plants, located in the regions of Maule and O´Higgins, will have an individual capacity of 6MWn and 9MWn, respectively, and will be built directly by Grenergy, using Tier 1 main equipment suppliers. The Spanish company will continue to operate the plants through its O&M divisions, always within the framework of the Chilean PMGD project regulation, marketing the energy under the Stabilized Price system in Chile.

This operation will have a direct impact on the income statement for 2018 and 2019, boosting compliance with the Business Plan presented a few weeks ago, with which the company seeks to strengthen its position as an Independent Energy Producer in the next two years with the objective of reaching 350 MW in operation; a strategy that will also lead it to increase its net profit by 146% to 16 million euros and multiply its EBITDA by four, to 33 million in 2020.

In fact, this agreement also comes just weeks after Grenergy signed with the South Korean company Daelim another alliance for the sale and construction of twelve PMGD solar plants in Chile with a power of 125 MWp and an investment of around 125 million euros.

All this has allowed the company to scale up and close last year with a 254% increase on the stock exchange, being the company that grew the most not only on the MAB – where it has been listed since 2015 – but also the company that rose the most on the Spanish stock exchange throughout the year.

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