The operation is part of the company's strategy to consolidate its position as an IPP platform (generating its own energy) and aims to increase its asset portfolio.

Spanish solar photovoltaic company Enerside has announced that it is building three of its own parks in Chile with an estimated investment of more than 55 million euros (US$ 57.3 million), it said in a statement on Monday.

The operation is part of the company's strategy to consolidate its position as an IPP platform (generating its own energy) and aims to increase its asset portfolio.

The projects, whose construction will begin in 2025, are the result of a combination of in-house developments and acquisitions through a corporate transaction carried out in 2024.

The parks are distributed generation and integrate solar panels with 4-hour lithium batteries, which allows for better sales prices during nighttime hours.

When fully operational, the parks will generate more than €8 million (US$8.3 million) in annual recurring revenue.

"MARKET CHALLENGES"

Enerside CEO Joatham Grange said the company had "anticipated market challenges" in a context of uncertainty for the renewable energy sector.

"With this investment, we seek to consolidate our position and continue to make progress towards achieving our strategic objectives," he said.