IM2 Solar Energy Developing Chilean Operations
IM2 Solar Energy is currently developing a pipeline of solar PV projects located at the highest irradiation areas along the country in Chile. The pipeline adds a total amount of 15MW power, with an estimated investment of 30MM USD. The projects are in different stages of development, being the first 6MW in a ready-to-build stage. The company has opened the assets commercialization process with some renewable energy specialized investors.
IM2 business model is based on solar projects development which will feed the energy into the grid, participating at spot market. The company operates under Turn Key modality based on EPC contracts. Operation and Maintenance services are also delivered within the complete services package.
Chile has been attracting renewable energy investment due to its strong economical situation and its regulatory and political stability, having the highest irradiation ratios around the world (>2.500kW/m2) and the most expensive electricity costs of Southamerica (200USD/MWh). It is one of the first countries in the world where the grid parity has been already achieved. With any economical support from the national government, the solar energy is competitive by itself, being able to enter into the spot market with the same conditions as conventional energies.