Rise Fund’s renewables group acquires Chilean solar energy portfolio

ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, January 28 — The Rise Fund’s solar investment arm, Matrix Renewables, is buying up a 154-megawatt solar portfolio from Santiago-based Verano Capital.

The acquisition includes 25 solar projects approved under Chile’s small-scale distributed energy generation scheme. The deal is Matrix Renewables’ first portfolio acquisition since it was launched by Rise Fund with a one-gigawatt acquisition from China’s Trina Solar last July. Terms of the deal were not disclosed. 

Chile has been aggressively developing its renewable energy capacity, in an effort to achieve 70% renewably-sourced power by 2050. Indeed, the country appears poised to reach that target 20 years ahead of schedule, thanks to its significant hydro-power capacity.