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Washington & Brussels–(ANTARA/Enterprise Wire)- EIG, a number one institutional investor to the worldwide vitality and infrastructure sectors, and Fluxys, a number one vitality infrastructure firm, right now introduced that they collectively will purchase an 80% fairness stake in GNL Quintero S.A. (“Quintero”), the most important liquefied pure fuel (LNG) regasification terminal in Chile, from Enagas Chile SpA and associates of OMERS Infrastructure. Phrases of the transaction weren’t disclosed.
Quintero is a key vitality infrastructure enterprise supporting Chile’s decarbonization technique with a bridging gas that permits for the reconciliation of financial progress with the uptake of renewables and the phasing out of coal. Operational since 2009, Quintero is the most important terminal for receiving and unloading LNG in Chile, in addition to for its storage and regasification capacities. The terminal advantages from its strategic location in Quintero Bay, supplying a diversified base of shoppers in central Chile throughout residential, business, industrial, transportation and energy era sectors. The terminal owns 75% of the nation´s LNG regasification capability and in 2021, 67% of the overall pure fuel imports (each LNG and pipeline imports) arrived in Chile by means of this strategic asset. With a day by day regasification capability of 15 million m3, an LNG storage capability of 334,000 m3 and a couple of,500 m3 per day of truck loading capability, the terminal is a dependable provider of pure fuel that contributes to Chile’s vitality diversification and safety.
Chile has world-class photo voltaic and wind assets and a RES capability equal to 4% of complete international vitality demand. The nation is aiming to grow to be one of many world’s three largest inexperienced hydrogen producers with plans to put in 200 GW of renewable energy by 2040 to supply inexperienced hydrogen. Chile already has signed a number of agreements to advertise the export of inexperienced hydrogen, amongst others with the Belgian ports of Antwerp/Zeebrugge, Germany, the Port of Rotterdam and South Korea.
The acquisition builds on EIG’s presence within the Chilean market, the place the agency owns Cerro Dominador, a groundbreaking photo voltaic advanced that mixes a 100MW photovoltaic (PV) plant with a 110MW concentrated solar energy (CSP) plant. The PV plant has been operational since 2017 and the CSP plant was efficiently synchronized with Chile’s electrical energy grid in April 2021. EIG is also a associate in AME S.p.A, a Chile-based venture developer and impartial energy producer. AME co-owns Generadora Metropolitana, the fifth largest electrical energy era firm in Chile, in addition to HIF World, a pacesetter within the hydrogen and e-fuels sector, with a collection of commercial-scale tasks in improvement and anticipated to achieve development over the following a number of years.
For Fluxys, the partnership is a forward-looking funding making a foothold out of the country in Latin America the place the vitality transition stands excessive on the federal government agenda. With its ample photo voltaic and wind assets, Chile goals to supply the world’s most cost-effective inexperienced hydrogen. The Belgian Hydrogen Import Coalition with Fluxys as associate has affirmed the competitiveness and feasibility of a inexperienced molecule provide chain from Chile to Europe and Belgium.
“We’re thrilled by the chance to put money into Quintero, an organization that aligns completely with our deal with strategic, high-quality infrastructure that’s vital to the area it serves and yields enticing, contracted money flows,” mentioned R. Blair Thomas, EIG’s Chairman and CEO. “We’re happy to be partnering once more with Fluxys, a world-class operational associate, to assist Quintero help Chile’s vitality wants and transition targets with dependable vitality. Quintero’s robust presence in pure fuel infrastructure serves as a lovely launching level to develop its presence in associated and adjoining sectors, together with storage, truck loading and regasification, in addition to to develop manufacturing capability for inexperienced hydrogen, the place Quintero has vital potential to be a home chief within the nascent business.”
“With 3 LNG terminals in Europe, our ambition to take a position outdoors Europe and to grow to be the transporter of recent vitality carriers, Quintero is an ideal match with our technique for progress in view of the low carbon future”, mentioned Pascal De Buck, Fluxys’ Managing Director and CEO. “We wish to deploy and develop our industrial experience worldwide and are excited to associate with EIG as main international vitality infrastructure investor already intensively concerned in vitality transition tasks in Chile. Our partnership in Quintero brings Fluxys nearer to hydrogen developments in Chile and helps the import of hydrogen in Belgium. We’re wanting ahead to collaborating and growing new alternatives with Quintero’s administration and workforce.”
The transaction is anticipated to shut within the second half of 2022, topic to customary closing circumstances, together with any required merger management and associated regulatory approvals.
Citigroup World Markets Inc. acted as monetary advisor to EIG and Fluxys in reference to the transaction. White & Case LLP served as EIG’s authorized advisor and Linklaters LLP served as Fluxys’ authorized advisor.
About EIG
About Fluxys
Headquartered in Belgium, Fluxys is a totally impartial vitality infrastructure group with 1,300 workers lively in fuel transmission & storage and liquefied pure fuel terminalling. By means of its related corporations internationally, Fluxys operates 12,000 kilometers of pipeline and liquefied pure fuel terminals totaling a yearly regasification capability of 29 billion cubic meters. Amongst Fluxys’ subsidiaries is Euronext listed Fluxys Belgium, proprietor and operator of the infrastructure for fuel transmission & storage and liquefied pure fuel terminalling in Belgium.
Contacts
Media Contacts
EIG
Sard Verbinnen & Co.
Kelly Kimberly / Brandon Messina
+1 212-687-8080
Fluxys Media Contact
Laurent Remy
+32 2 282 74 50
Supply: EIG and Fluxys
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