Solaer lands $65M for first Chile wind farm as losses widen
What's the deal? SolaerDealroom has a profile for this one. Try Dealroom → has secured $65 million to build its first wind energy project in Chile, a 47MW farm in the Calbuco area, south of Puerto Montt. The company, led by co-chief executive officers Paula and Alon Segev, also raised a $6.3 million facility to cover guarantees and VAT payments.
The details: The farm will include roughly 80MWh of storage, with Solaer holding a 47% stake. Construction began in 2025, and grid connection is expected in 2027.
What's the endgame? The project company has signed an 11-year power purchase agreement. Solaer estimates annual revenue of US$12.3M and EBITDA of US$9.47M from the site.
The bigger picture: The wind farm is one piece of a broad Chile expansion. Solaer runs just 6MW of solar there now, but is building a 53MW solar project with 220MWh of storage on a similar timeline.
Elsewhere, Spain remains its largest market with 89MW connected, ahead of 9MW in Israel and 3MW in Poland — a total operating capacity of 107MW, excluding storage. The company is also expanding through acquisitions, signing a binding deal in late August with insurer ClalDealroom has a profile for this one. Try Dealroom → to buy 268MW of Polish solar projects, taking a 51% stake.
Why it matters: Chile also anchors two earlier-stage bets: a desalination plant to supply Atacama Desert mining operations, recently cleared to double capacity to 110 million cubic meters a year, and a data center planned at 300MW that could reach 4GW.
What could go wrong? The expansion comes as results weaken sharply. Solaer posted an operating loss of US$6.55M in the first half of 2026, against a US$1.23M loss a year earlier.
A stronger shekel hit hard: financing expenses reached US$21.2M, versus US$4.86M in financing income a year earlier. The company swung from a US$3.33M profit in the first half of 2025 to a US$25.6M loss.
The signal: Solaer is racing to scale connected capacity across Europe and Latin America — with roughly 1.1GW approaching construction — even as currency swings and losses test the balance sheet. Its Chile push, spanning wind, solar, water, and data centers, shows how renewables developers are chasing adjacent infrastructure to diversify revenue.
Read more: calcalistech.com
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