Nala Renewables has acquired a portfolio of solar photovoltaic (PV) projects in Chile with a maximum output of 150MW from Solek for an undisclosed price.

The solar portfolio comprises 13 PV projects that are either in development or construction.

The projects are located in five regions across the South American country, said Nala Renewables.

The company said that the projects are anticipated to be 100% operational over the next two years. The projects will operate under the Chilean special regime for distributed generation projects (the PMGD regime), which will ensure stable remuneration for the produced renewable power.

Solek will execute the engineering, procurement, and construction contracts (EPC) as well as operation and maintenance contracts (O&M) for the solar PV projects.

Solek Group founder and CEO Zdeněk Sobotka said: “We are very pleased to cooperate with Nala Renewables. Partnering with an investor who is on track to build a global portfolio of four gigawatts is an important step that is in line with Solek’s strategy and opens the potential for further cooperation in other regions.”

Nala Renewables said that the portfolio will be majority-owned by its Chilean business Nala Renewables Chile. The minority stake in the portfolio will be held by Moonvalley Capital and Korkia, a Finnish renewables investment company.

Nala Renewables CEO Jasandra Nyker said: “By 2025, Nala Renewables’ aim is to build a global portfolio of renewable energy projects with a cumulative generative capacity of four gigawatts to be operating, in construction, or in late-stage development.

“We are pleased to be working with Solek and alongside our co-investors in Chile and plan to continue expanding our footprint, both within the region and beyond.”

Nala Renewables is a power and renewable energy investment and development platform created last year by Swiss commodity trading company Trafigura and IFM Investors.

The joint venture company is aiming to develop a global portfolio of 4GW renewable energy projects that are operating, in construction, or in late-stage development.