Yinson Holdings Berhad (“Yinson”), through its wholly-owned subsidiary Yinson Renewables Pte Ltd, has agreed to collaborate with Chile-based renewable energy developer Verano Capital Holdings SpA (“Verano”) for renewable energy projects in Chile, Colombia and Peru. The collaboration initially targets to progress a pipeline of over 800MW of utility scale solar projects, of which 330MW are expected to be consented within the next 6 to 12 months. Due to their strategic locations, these projects are anticipated to enable Yinson and Verano to offer attractive power offtake prices to energy buyers.

Yinson and Verano will focus on completing the consenting process for the most advanced projects in this collaboration, and subject to Yinson’s final investment decisions, Yinson and Verano aim to begin construction on the first 100MW within the next 6 months.

Founded in 2012, Verano has sourced, provided initial investments and developed renewable energy projects in Latin America for nearly a decade. Verano has an existing portfolio in excess of 1GW, with 23 sold projects in operation generating 284,900MWh of clean energy and offsetting 258,602 tonnes of CO2 per year.

Yinson’s Chief Executive Officer for Renewables, David Brunt, commented, “This collaboration with Verano represents a unique opportunity to drive our expansion in renewable energy and take part in the continent’s vast growth in the green energy space.”

Dylan Rudney, Chief Executive Officer of Verano, added, “We are excited to announce this collaboration with Yinson which allows us to grow quickly in several different geographies. We share common goals and values, with their ambition to become a leading IPP for renewable energy, their speed and commitment to drive the global transition to a net carbon-zero future. Combining global scale and project development expertise mean that we can provide the most attractive clean energy solutions for the market.”