AES Gener, a subsidiary of Virginia-based power company AES Corp., has revealed plans to funnel $1.8 billion into building renewable projects in Chile and Colombia over the next several years, according to REVE, a Madrid-based renewable news source.
AES Gener also said it will install more than 400 megawatts of renewable energy projects in the countries each year from 2021 to 2023, noted Wind Power Monthly. AES Gener said approximately 400 megawatts are currently operating or under construction, with another 16 percent shovel-ready.
The projects will be financed with available cash, by partners in the projects and a capital increase of $500 million.
In May 2018, AES Gener launched a strategy aimed at decarbonizing its customers’ electricity supply and positioning it as a major energy solution company in South America. Since then, AES Gener has signed renewable contracts for 8.1 terrawatts per year in Chile and Colombia, according to REVE.
