AES Andes Acquires Bolero Solar Park in Northern Chile

June 7, 2023 - In a new step to accelerate its transition to renewable energy, AES Andes has signed a purchase agreement to acquire the Bolero Solar Park, located in the municipality of Sierra Gorda, in the Atacama Desert, in the region of Antofagasta.

The photovoltaic plant has an installed capacity of 146 MWp, over an area of 518 hectares. The photovoltaic park is divided into two sections: Bolero Este and Bolero Oeste, with an installed capacity of 60 MWp and 86 MWp, respectively. It has approximately 470,000 solar panels and is connected by a 3-kilometer transmission line to the Laberinto substation, which is owned by AES Andes.

It began commercial operations in April 2018 and its generation is equivalent to energy needs of 181,000 homes.

"With the acquisition of Bolero Solar, we are accelerating our transformation by incorporating an excellent asset already in operation and expanding our solar hub in the north of the country. This will allow us to increase our capacity in the region and create important synergies in the operation of our photovoltaic plants in the Atacama Desert," said Javier Dib, CEO of AES Andes.

The CEO emphasized that "this area is unique in the world thanks to its high solar radiation, which allows us to continue accelerating the future of energy together. To this end, we will evaluate the possibility of adding a storage system that will allow us to inject energy during non-solar hours".

The Company's new 100% renewable plant was acquired from EDF EN Chile Holding SpA (50%) and Marubeni Corporation (50%).

The CEO of EDF Renewables Chile, Matías Steinacker, said that "the sale of Bolero follows a strategic decision by EDF Renewables, and is part of a reorganization process aimed at diversifying our assets in the country. In addition to our renewable power plants in operation, we have a diversified portfolio of renewable energy, storage and hydrogen projects under development, which is a clear sign of our commitment to continue contributing to the country's energy transition.”

With Bolero Solar, AES Andes will operate 249 MW of solar, including Andes Solar I and IIA (103 MW). This is in addition to the projects currently under construction, such as Andes Solar IIb (180 MW) and Andes Solar IV (238 MW), which will include 112 MW and 147 MW battery storage systems for 5 hours, respectively. 

About AES Andes

AES Andes generates and sells energy in Chile, Colombia and Argentina. The Company operates 5,345 MW in the region and has a broad portfolio of renewable energy projects under development. The Company is one of the leading generators in the region with a diversified portfolio that includes hydro, wind, solar, energy storage, biomass, gas and coal plants.