Latin America Power (LAP) was born in early September 2011, as a power generation company aiming to improve the energy matrix for Chile and Peru using renewable sources, while maintaining close relationships with local communities, generating value for shareholders and protecting the environment. The new company brought together the companies BTG Pactual, Patria Investments and GMR who had already launched a similar project with success in Brazil, namely the Brazilian company ERSA/CPFL Renováveis.
LAP’s first investment in Chile was the purchase the water rights at Carilafquen-Malalcahuello in the Araucanía Region, with the aim of developing a hydroelectric plant in the area of Cunco close to Temuco. This was followed by the acquisition of two operating hydroelectric projects in Peru, Santa Cruz 1 and 2 and two under construction, Huasahuasi 1 and 2.
The acquisition of Runatullo 2 and 3 in Peru took place in 2011, and these projects are currently in operation.
In 2012 the Company made significant advances in Peru, acquiring important hydroelectric projects at the development phase, such as Tulumayo 4 and 5, Limacpunco, Capiri and Ttio; projects ready to begin operations, such as Huasahuasi 1 and 2; and projects ready to begin power plant construction, such as Runatullo 2 and 3. It also delved into the wind power market in Chile by acquiring the San Juan project, which is at the development phase.
In 2013 LAP acquired Totoral Wind Farm, bringing a further 46 MW to its portfolio of operating projects.
2014 was a year dedicated to prepared and moves forward on these important projects. All the studies and preparation for the San Juan Wind Farm, the first project that was started from scratch, were completed. Progress was achieved with the preparations for the La Cabaña (110,4 MW) and Rihue (127,7 MW) Wind Farms.
On May, 2015 LAP began constructing the largest wind farm in Chile. It will have an installed capacity of 184.8 MW and will become operational during the second half of 2016. The San Juan Wind Farm is located on the coast in the Atacama Region, 60 kilometers south of Puerto Huasco. The Wind Farm is connected to the Punta Colorada substation, located 70 km north of La Serena, using an 84 km 220 kV high voltage transmission line.
LAP starts 2016 with the operation of the hydroelectric plants, Carilafquén and Malalcahuello, with a generating capacity of 29 MW. The plant is connected to the Central Grid (SIC) using an 110kV transmission line with 120km. This renewable energy project is located in the Ninth Region of Araucania.
New businesses are being developed and obtained the Environmental Approval Resolution for the La Cabaña and Rihue Wind Farm. This will enable LAP to apply for the construction permits for the first Greenfield project that LAP has developed from scratch. Development at these farms began in 2013/14, since then the projects have wind measurements have been taken.
The hydroelectric plants Tulumayo 4 (56.2 MW) and Tulumayo 5 (83.2 MW) in Junin, have already been granted environmental approval.
The San Juan Wind Farm starts testing its 1st unit in July 2016 (14 months from the start of construction) and connects the 56th and last wind turbine in December 2016.
In March 2017, PE San Juan is declared in commercial operation by the CDEC. With the launch of San Juan, the company has a portfolio of projects of more than 1,000 MW, distributed as follows: 10 operating centers in Chile and Peru with a total of 333 MW and 07 projects under development in Chile and Peru for a total of 718.5MW.