Qualitas Energy buys run-of-river hydro in Chile, opens local office

June 1 (Renewables Now) - Spanish renewables investor Qualitas Energy said on Thursday that it has opened an office in Chile after acquiring its first asset in the country, a run-of-river hydroelectric power plant.

The firm provided no details about the acquisition nor the plant other than saying it had made a “strategic decision” to buy it due to its size, location and generation profile.

This will be Qualitas Energy’s first experience with a run-of-river hydro asset. It said that run-of-river hydro will be one of the technologies it will focus on in Chile besides solar photovoltaic, wind and energy storage.

The opening of the country office in Santiago marks not only the firm’s entry into the Chilean market, but also its arrival in Latin America and overseas after setting up eight offices in Europe.

Chilean electricity sector veteran Alfonso Ardizzoni has been appointed the country head, working alongside Oscar Perez, partner and chief business development officer, and Cristobal Santa Cruz, principal of investment, Qualitas Energy said.

“Chile is a strategic country for Qualitas Energy due to its favorable and stable regulatory environment, strong renewable development, and ambitious decarbonization goals that position it as one of the fastest-growing clean energy markets worldwide in the next decade. With the consolidation of its local presence, the company is poised to support this new era of the Chilean energy system, as well as the Latin American energy landscape as a whole,” the Spanish investor said in Thursday’s announcement.