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Home » Peruvian Solar Development Partnership – Update

Peruvian Solar Development Partnership – Update

Following-on from last week’s announcement of our partnership with a major Peruvian engineering firm, we’re pleased to formally announce our new plans with Tecnicas Metalicas, headquartered in Lima. Founded in 1979, Tecnicas Metalicas is a heavy engineering firm with a long standing track record in metal (especially steel) fabrication, with both the delivery capacity and resources to make it a leading player in Peruvian infrastructure… and soon to extend their reach (with us) into Peruvian solar development.

With a 52,802 sqm fabrication plant (and a processing capacity of 2,400 tons steel per month) they’re firmly established as a major player in mining, telecoms, energy and transportation projects. We’re delighted to add their industrial muscle to our renewable energy development know-how. Together, our partnership is positioned to assist the Peruvian government’s sustainable rural electrification plans. Tecnicas Metalicas’ status as an established player in Peruvian infrastructure development also gives greater assurance for our overseas investors that we can provide low-risk, high profit renewable energy developments.

“We are excited to announce this alliance” said Mario Cruz, Tecnicas Metalicas’ founder and CEO. “By working with Solar 350, we have a unique chance to expand our firm’s offerings into an attractive growth market. Bringing low-cost electricity to rural areas in Peru is also a fantastic opportunity to contribute to the country’s social and economic development.”

In addition to adding another major industrial partner to 350’s overseas development capabilities, this partnership will also add a strong revenue stream to support our expansion of Solar 350 (our development company). Acting as the on-the-ground developer with Tecnicas Metalicas, Solar 350 benefits from the fee-earning potential of our Peruvian projects, whilst Carbon 350 (our carbon abatement company) will use its long-standing carbon brokerage experience to trade the accrued CO2e offsets via the Clean Development Mechanism.

Nick Dimmock, 350 MD adds “Our family of companies is built on three pillars. Solar 350 generates revenue from developing renewable power installations; Carbon 350 from trading the emissions credits they create; and our financial team headed by Justin Passfield constructs financial instruments to leverage international demand for tax efficient renewable energy investments. Tecnicas Metalicas is the ideal partner to help us build a strong business on these pillars in Peru, much like our partnership with Gruen & Hornstrup has done in Chile. We’ve defined a mutually beneficial way of working, where both partners accrue valuable equity in a diverse portfolio of joint venture companies that not only de-risks our investment potential but also secures the ongoing growth of partnership, whilst 350 keeps true to our mission to reduce atmospheric carbon levels via all commercial means.”