Solek Group Sells Its Chilean Solar Holdings To Canadian Firm

Prague, Aug 30 (CTK) – Solek Group, a Czech investment group specialising in photovoltaic power station projects, has sold its Chilean projects with a planned installed output of 118 megawatts (MW) to Canadian company CarbonFree, Solek Group owner Zdenek Sobotka told CTK today without disclosing the price.


According to CTK’s market sources, the transaction price could be some Kc2.9bn.


Solek Group is supposed to launch the plants’ construction at the end of this year, with CarbonFree co-financing the projects.


CarbonFree is expected to take over the finished plants at the end of 2019 or the beginning of 2020, Sobotka said.


All the stations should be within a 250-kilometre radius of Chile’s capital Santiago.


Solek Group has carried out tens of solar power plant projects with the total installed output of over 30 MW in Czechia, Slovakia, Romania and Chile.


CarbonFree is linked with Canadian investors owning more than 85 solar projects in three countries with the installed output of over 400 MW.


Solek Group has mapped plots of land for 2,000 MW of photovoltaic installations in Chile, Sobotka told CTK.


It wants to get a permit for about 450 MW and build solar stations with at least a 250 MW output, offering them to investors. “The growth is dramatic, with the company undergoing a major change,” Sobotka said.


The installed output of all the Czech Republic’s solar power stations was about 2,050 MW at the end of June, the Energy Regulatory Office (ERU) said.


Solek Group is examining opportunities in other South American countries, such as Argentina and Colombia, Sobotka stated.


Last year, Solek Group sold Parque Solar Cuz Cuz, its pilot photovoltaic power plant project in Chile with an installed capacity of 3.07 MW, to a Chilean fund focused on investments in renewables for about Kc77m. The fund is managed by Ad Capital Servicios Financieros.


Solek Group, including Czech company PV Power since June, expects that its new consolidated entity will be profitable in 2018-2021.


The group has invested Kc212m.