Canadian company forms JV with Chilean renewables firm

The Canadian company Innergex, has announced a joint venture partnership with the Chilean company Energia Llaima for 50% ownership of the company.

Energia Llaima is a growing renewable firm located in the capital of Chile, Santiago. Energia Llaima owns interest in the 12MW Energía Coyanco hydro project and in the 34 MW solar thermal facility in Pampa Elvira. It has also helped developed two hydro projects and it has been selected in a bid process to acquire the 140 MW Duqueco hydro project.

Innergex has now invested an initial US$10 million and has agreed to invest an additional US$100 million over a 12-month period, 90% of which will be invested for the acquisition of the Duqueco hydro project.

Both companies believe that this partnership will make them key players in the renewable market of South America.