ContourGlobal has acquired solar assets in Chile’s Oasis de Atacama for US$962 million. The deal includes the world’s largest battery energy storage system and was supported by Freshfields and Morales & Besa. This acquisition underscores ContourGlobal’s commitment to renewable energy investments in Latin America.
ContourGlobal, a prominent UK power company, has successfully acquired a substantial portfolio of solar assets located in Oasis de Atacama, Chile. This strategic acquisition includes the world’s largest battery energy storage system (BESS) and was executed with the assistance of legal firms Freshfields Bruckhaus Deringer and Chile’s Morales & Besa. The deal, valued at US$962 million, marks a significant investment in renewable energy and positions ContourGlobal at the forefront of the energy sector in Latin America.
The Oasis de Atacama project represents a critical development in energy storage technology, particularly for solar power generation. Given Chile’s abundant sunlight and clear skies, harnessing solar energy with advanced battery storage systems not only enhances energy reliability but also promotes sustainable energy practices in the region. The involvement of reputable legal firms is indicative of the complex nature of such international transactions, showcasing the need for expert guidance in navigating regulatory frameworks.
In conclusion, ContourGlobal’s acquisition of the solar assets in Oasis de Atacama underlines the increasing relevance of renewable energy investments globally. The partnership with experienced legal advisors highlights the intricacies involved in large-scale transactions within the energy sector. This acquisition is expected to bolster ContourGlobal’s operations and solidify its presence in the Latin American renewable energy market, fostering a more sustainable energy future.
Original Source: www.latinlawyer.com
