Marubeni Corporation has agreed with EDF Energies Nouvelles, awholly-owned subsidiary of Électricité de France (“EDF”)dedicated to renewable energy business, to participate in a 146 MW photovoltaic solar plant project known as the Laberinto Project which is to be located in the Atacama Desert in the region of Antofagasta, Chile.
The parties have entered into a partnership agreement to jointly invest in the Project.The Project is located in the Atacama Desert,which has the highest level of irradiation in the world,and will be connected to Chile’s Northern Interconnected System.
The Project is equally owned by EDF Energies Nouvelles and Marubeni. The Laberinto Project fits the Chilean government’s objective of generating 20% of the country’s power from renewableenergies by 2025.EDF Energies Nouvellesis one of the largest renewable energy players, with a presencein 20 countriesanda portfolio ofmore than10,000 MW (gross) of renewable power plantsdeveloped, built and commissioned. The Project constitutes the third joint project between Marubeni and EDF Energies Nouvelles following two projects in the North American region.Marubeni promotes various renewable energy business backed by the increase of global need for low-carbon power sources.
Marubeni, as a leading Japanese investor in the world electric power market, will continue looking for potential opportunities inthis market. Starting from this first investment footprint in the Latin American power sector, Marubeni intendsto expand its presence in the region.Upon completion of this transaction, Marubeni’s total worldwide generation capacitywill be 35,434 MW (gross) and 11,022 MW (net).