Verano Energy is accelerating its renewable energy expansion across Chile and Colombia, supported by a development pipeline exceeding 2.5 GW of clean energy projects and more than 2 GWh of battery energy storage systems (BESS).
The company said its regional portfolio includes more than 60 solar power plants developed across Latin America, with over 800 MWp of installed capacity and more than USD 800 million raised to finance renewable energy projects. While Verano Energy also operates projects in Peru and Argentina, its immediate growth strategy is focused on Chile and Colombia.
According to Carolina Galleguillos, General Manager Latin America at Verano Energy, the company’s international portfolio comprises more than 2,500 MW of renewable energy projects and over 2,000 MWh of battery storage capacity, positioning it to capitalize on the growing demand for hybrid renewable energy solutions.
Chile Focuses on Hybrid Solar and Battery Projects
In Chile, Verano Energy is expanding its portfolio through utility-scale hybrid solar and battery storage projects.
The company’s Domeyko Solar + BESS project combines 83 MWp of solar capacity with 660 MWh of battery storage. The project has completed the installation of its battery energy storage system, while the solar plant has reached approximately 90% construction progress. The project is being developed in partnership with Abastible, which will purchase the electricity generated under a power purchase agreement (PPA). Verano Energy has also secured USD 204 million in financing for the project.
The company is also preparing to begin construction of its Observatorio Solar + BESS project in Chile’s O’Higgins Region. The project will feature 123 MWp of solar capacity and 660 MWh of battery storage, supported by an estimated USD 190 million investment. Commercial operations are expected to begin during the first half of 2028, with electricity to be supplied under a PPA with Copec Emoac.
Together, the two projects represent 206 MWp of solar capacity and 1,320 MWh of battery storage, strengthening Verano Energy’s position in Chile’s growing hybrid renewable energy market.
Colombia Expansion Backed by Solar and Storage Pipeline
In Colombia, the company is nearing completion of its first renewable energy project, the 13 MWp Chicalá Solar Plant, located in the Atlántico department. The project has completed the installation of all solar modules and is expected to generate approximately 25.9 GWh of electricity annually.
The project has been financed through a Project Finance structure with the Financiera de Desarrollo Nacional (FDN) and is supported by a long-term power purchase agreement (PPA) with AES Colombia.
Beyond Chicalá, Verano Energy is developing its Magdalena portfolio, comprising three solar projects with a combined capacity exceeding 40 MWp, while also planning two additional utility-scale renewable projects over the next five years. The company said it expects battery energy storage to play a key role in its long-term strategy for the Colombian market.
Verano Energy believes battery storage will become a major driver of the next phase of renewable energy growth across Latin America, enabling greater grid flexibility and improving the reliability of renewable power systems. The company added that continued investment in technically robust, financially sustainable and socially responsible projects will be critical to supporting the region’s energy transition.
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