Malaysia-based Yinson Renewables’ Matarani solar plant in Peru recently entered into its full operational phase, following the commencement of power export and sales in July 2024.

The 97 MWp plant, located near Arequipa, positions Yinson Renewables as Peru’s second largest solar generator and is Yinson’s first operational project in Peru, the firm said in a statement on Tuesday.

The Matarani solar plant has a long-term power purchase agreement (PPA) with Orygen, Peru’s leading renewable energy generator, whose majority shareholder is the global sustainable infrastructure investment fund, Actis.

“The Matarani Solar Plant is a significant milestone for Yinson Renewables, being our first in Peru and the region,

“With this plant now fully operational, Yinson Renewables has created a strong foundation which will facilitate our continued expansion in the region,” Yinson Renewables Chief Executive Officer, David Brunt, commented.

It is noted that Yinson Renewables acquired the project from Grenergy Renewables in January 2024.

Grenergy provided a full turnkey EPC contract for the construction of the project and is also providing operation and maintenance service for the first two years.

Yinson Renewables has a strong growth ambition in Latin America, with a pipeline of close to 1 GW expected to be built in the next three to five years.

In Peru, Yinson Renewables also owns the 130 MWp Majes Project, the first phase of which is expected to be ready for construction by end 2024.

Matarani is Yinson Renewables’ fourth large scale project to reach commercial operations, with the first three being the Rising Bhadla 1 & 2 plants and the Nokh Solar plant in India.

Yinson Renewables is an independent renewable power producer with a portfolio of assets across the entire renewables value chain focusing on three core regions of Latin America, Europe and Asia Pacific.

The firm 557 MW of utility scale renewable generating assets in operation, a pipeline of over 1.5 GW of projects in development and over 3 GW of early-stage opportunities.

The firm is a subsidiary of Yinson Holdings Berhad, a Malaysia-based energy infrastructure and technology company active in offshore energy with Yinson Production, renewable energy with Yinson Renewables, green technologies with Yinson GreenTech, sustainable investment and asset management with Farosson, and offshore marine with Regulus Offshore.

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