Copec acquires Tamarico II solar power project
Chilean energy company Copec has acquired the Tamarico II solar power project, located in the country’s Atacama region.
The project comprises a 165 MWp photovoltaic power plant and a 725 MWh battery energy storage system (BESS) which may be expanded to 925 MWh.
Pursuant to the agreement between the parties, Copec’s subsidiary Copec Flux will acquire 100% of the company that owns the project once Tamarico II commences commercial operations.
With the addition of Tamarico II, Copec will add its third large-scale solar park since 2024, reaching approximately 550 MWp of solar generation capacity in total. The project will join Copec’s portfolio alongside Granja Solar, a 123 MWp project located in the Tarapacá Region, and La Huella, an 87 MWp project located in the Coquimbo Region, as well as the distributed generation assets and ESCO solutions developed by Copec Flux.
The transaction represents a further step in Copec’s strategy to consolidate its own renewable generation and energy storage portfolio, with the aim of expanding its energy solutions offering for customers and contributing to the greater integration of clean energy into Chile’s national electricity system.
The agreement also strengthens the relationship between Copec and METLEN, which began three years ago, and lays the groundwork for future collaboration opportunities in the development of renewable generation and energy storage projects in Chile.
Law firm Portaluppi, Guzmán & Bezanilla Abogados advised Copec on the agreement for the acquisition of the project, with a team led by M&A partner Eugenio Guzmán, with associates Crescente Bernales and Juan Cristóbal Porzio.