Verano Energy
Verano Energy is a private, US-backed Independent Power Producer that develops, builds, owns, and operates utility-scale solar and battery storage projects across Chile, Peru, Colombia, Argentina, and the United States, serving utilities and large industrial offtakers under long-term PPAs.
- Company typePrivate
- Founded2012
- HeadquartersCalgary, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Verano Energy does
Verano Energy is a private, US-backed Independent Power Producer (IPP) developing, building, owning, and operating utility-scale solar generation and battery energy storage projects across Latin America. Founded in 2012 by Dylan Rudney and headquartered in Santiago, Chile, the company operates through four integrated units: Development (greenfield origination, permitting, PPA negotiation, and project financing), Verano EPC (engineering, procurement, and construction, in-house since 2018), Verano O&M (operations, maintenance, and asset management with a minimum two-year post-construction handover), and Verano Power (a 2024 generation vehicle targeting over 1,300 MW of owned capacity). The technology stack centers on photovoltaic generation with grid-strengthening battery storage — most visibly an 83 MWp solar / 660 MWh BESS configuration at the Domeyko project in Chile's Atacama region — and a forward green hydrogen and green ammonia program (Horizonte de Verano) targeting up to 5.85 GWp of dedicated PV capacity across Chile and Peru.
Verano Energy firmographics
Firmographics- Name
- Verano Energy
- Legal name
- Verano Energy
- Website
- https://verano.energy
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Verano Energy is a private, US-backed Independent Power Producer that develops, builds, owns, and operates utility-scale solar and battery storage projects across Chile, Peru, Colombia, Argentina, and the United States, serving utilities and large industrial offtakers under long-term PPAs.
- Ownership category
- akta.pro rank
Verano Energy industry classification
Industry- Product category
- Renewable Energy / Independent Power Production
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Electric Services (4911), Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)
- akta.pro secondary industries
- Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI), PPA Origination, Structuring & Offtake Contracting (Physical/Financial, Sleeves) (EUAMAMAD), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)
Keywords
Where Verano Energy is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices5 records
Markets served
Verano Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Power Generation and Sale (Owned Assets): Verano Energy develops, builds, and operates renewable energy assets, generating revenue through the sale of electricity under long-term PPAs. The company is transitioning from developer to IPP, with assets like the Domeyko project (83 MWp solar + 660 MWh BESS) operated under 15-year offtake agreements.
- EPC (Engineering, Procurement, Construction) Services: Verano EPC designs and constructs solar plants for the company's internal portfolio and potentially for third parties. Over 42 plants built with 213+ MWp installed capacity; 1.6 GW accumulated EPC experience.
- Operations and Maintenance (O&M): Verano O&M provides plant monitoring, preventive maintenance, and performance optimization services. Operates plants internally and ensures performance ratios (PR) and plant management during a minimum two-year handover period from EPC.
- Project Development and Financing: Verano Development raises project financing and arranges PPAs for projects. Has raised over $1 billion in project financing across Latin America, working with international banks and funds.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Verano Energy product offering
Product offeringCore offering
Verano Energy develops, finances, builds, owns, and operates utility-scale solar PV and battery energy storage projects across Latin America, selling electricity under long-term Power Purchase Agreements (PPAs). Its vertically integrated offering spans project development, EPC construction, operations and maintenance, and (since 2024) direct power generation through its Verano Power subsidiary, with an emerging green hydrogen and green ammonia production pipeline.
Product overview
Verano Energy is an integrated Independent Power Producer (IPP) operating across Latin America with three core business divisions: Development (project development and financing), EPC (engineering, procurement, and construction), and O&M (operations and maintenance). The company also operates a Green Hydrogen division focused on green ammonia production. Key products include utility-scale solar projects, battery energy storage systems (BESS), and green hydrogen production facilities. Major projects include the Domeyko Solar + BESS (83 MWp/660 MWh), Catalina del Verano (60 MW/360 MWh), and Horizonte de Verano green hydrogen gigaproject (up to 5.85 GWp). The portfolio exceeds 10 GW of clean energy projects across Chile, Colombia, Peru, and Argentina.
Differentiator
Problem solved
Functional benefit
Products and services
- EPC (Engineering, Procurement, and Construction) Services
- O&M (Operations and Maintenance) Services
- Project Development Services
- Solar Project Financing Services
- Domeyko Solar + Battery Energy Storage System (BESS)
Quantifiable outcome
- 83 MWp solar + 660 MWh BESS capacity in Atacama region
- +3 more outcomes
Companies that use Verano Energy
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Verano Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Verano Energy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Enertis Applus+supportingIndependent technical advisor supporting BESS project financing in Chile. Enertis Applus+ drove development of over 11 GWh of BESS projects in Chile including Verano's Domeyko project and Grenergy's Elena solar PV plant. Consolidates position as leading independent technical advisor for BESS financing in Chile.
Scale indicators12 records
Recent moves8 records
Expansion highlights6 records
Verano Energy competitors and assessment
Company assessmentDirect peers
- Solarpack (Eni Plenitude): Utility-scale solar developer, builder and operator with a deep footprint in Chile, Peru and Colombia. Directly comparable in IPP model, Latin American geography and turnkey solar+BESS project delivery.
- Sonnedix: Global solar IPP with significant operating and development presence in Chile, Peru and the broader LatAm region. Comparable as a pure-play solar IPP pursuing multi-country Latin American expansion via project finance debt.
- Lightsource bp: Global utility-scale solar developer and operator with operations across the Americas including Latin America. Comparable integrated solar developer/owner/operator model.
- Mainstream Renewable Power: Global renewable energy developer with a large Chilean wind and solar pipeline and active power offtake contracting. Comparable as a developer-to-IPP in the same Latin American markets Verano targets.
- Atlas Renewable Energy: US-headquartered, Latin America-focused utility-scale solar IPP with project development, financing and operations across Chile, Colombia, Brazil and Mexico. Closest comparable to Verano in business model, geography and customer base (utility-scale solar + BESS with long-term PPAs).
- Scatec ASA: Norwegian renewable energy IPP with established solar and storage operations in Latin America. Comparable as a multi-country IPP leveraging project finance debt to scale utility-scale renewable assets.
Broad incumbents
- Engie Energía Chile: Major Chilean electricity generator with significant renewable capacity. Competes for utility PPAs and corporate offtakers in Chile but operates a wider portfolio including thermal and hydro assets.
- AES Andes: Chile-based electricity generation utility (formerly AES Gener) with a growing renewable portfolio of solar, wind and BESS in Chile and the broader region. Comparable as a Chilean power generator serving utility offtakers, but with a much larger and more diversified asset base.
- EDF Renewables: Global renewable IPP with solar and wind projects across the Americas. Comparable as a multi-geography utility-scale renewable developer/owner, though broader in technology and scale than Verano.
- Enel Green Power: One of the world's largest renewable IPPs and a major operator in Chile, Colombia, Peru and Argentina. Overlaps with Verano on geography and customer base but operates at materially larger scale and across multiple technologies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Verano Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Verano Energy leadership team
Management profileNumber of profiles
Profiles7 records
Verano Energy subsidiaries and ownership
Company hierarchySubsidiaries3 records
Verano Energy funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Verano Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Verano Energy
What does Verano Energy do?
Verano Energy develops, finances, builds, owns, and operates utility-scale solar PV and battery energy storage projects across Latin America, selling electricity under long-term Power Purchase Agreements (PPAs). Its vertically integrated offering spans project development, EPC construction, operations and maintenance, and (since 2024) direct power generation through its Verano Power subsidiary, with an emerging green hydrogen and green ammonia production pipeline.
Is Verano Energy a public or private company?
Verano Energy is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Verano Energy founded?
Verano Energy was founded in 2012. It employs 11 to 50 people.
Where is Verano Energy based?
Verano Energy is headquartered in Calgary, Canada, in the North America region.
How does Verano Energy make money?
Four revenue lines are on record. Power Generation and Sale (Owned Assets) is the primary driver. The others are EPC (Engineering, Procurement, Construction) Services, operations and Maintenance (O&M) and project Development and Financing.
Who are Verano Energy's main competitors?
Direct peers on record are Solarpack (Eni Plenitude), Sonnedix, Lightsource bp, Mainstream Renewable Power, Atlas Renewable Energy and Scatec ASA. Broad incumbents are Engie Energía Chile, AES Andes, EDF Renewables and Enel Green Power.
Does Verano Energy have an API?
No public API is recorded for Verano Energy.
What industry is Verano Energy in?
Verano Energy's product category is Renewable Energy / Independent Power Production. Its primary akta.pro industry code is EUAMABAA, Solar Project Development & IPP (Utility-Scale & Rooftop), with a secondary code of EUAGADAB, Utility-Scale Generator PPAs (Project Offtake). Its NAICS code is 221114 and its SIC code is 4911.