AES Andes finalized project finance financing for its Pampas Hybrid Park project, located in Taltal, Antofagasta Region, for an amount of US$550 million, one of the largest debt structurings in Latin America during 2025.
The Pampas hybrid power plant will have almost 700 MW of capacity and will be the first large-scale project in Chile to combine three technologies:
- Wind energy (128 MW)
- Solar photovoltaic energy (229 MW)
- BESS battery storage (340 MW for up to 4 hours)
For its part, the photovoltaic park will consist of two (2) areas of photovoltaic modules called South Zone and North Zone, which together will total an installed power of approximately 230 MWp.
The project's main objective is to supply clean energy to Chile's National Electric System (SEN), thus contributing to the increased participation of renewable technologies in the country. It will be located in the municipality of Taltal, Antofagasta Province, Antofagasta Region, approximately 55 km east of the town of Paposo, 75 km northeast of the city of Taltal, and 150 km south of the city of Antofagasta. This park will generate up to 1000 GWh/year, equivalent to supplying more than 415,000 Chilean homes, and represents a decisive step towards increasing the participation of renewable energy and storage capacity in the National Electric System, strengthening the security and sustainability of electricity supply in Chile.
The energy company's project has had its Environmental Qualification Resolution (RCA) approved since September 2024, and its entry into the Environmental Impact Assessment Service (Seia) was in February 2023 with an investment of US$800 million.
The Pampas project is expected to begin the first stage of its commercial operation in the second quarter of 2027, and be operating at 100% by the end of the same year.
"We are very proud to have secured the financing for the Pampas Hybrid Park in just over two months, thanks to the commitment and professionalism of the entire team and our financial partners," said Javier Dib, CEO of AES Andes.
In addition to this progress, AES is currently building 2,117 MW of new renewable and battery storage capacity in Chile, with total financing exceeding US$1.5 billion over the past 12 months. "This achievement reaffirms our commitment to the development of renewable energy and the country's energy transition," the company stated.