Wind farm in Chile. Featured Image: Pablo Rogat/Shutterstock.com
A 60/40 joint venture between private equity firm Actis and Ireland’s Mainstream Renewable Power has won contracts to build and operate two wind farms in Chile with a combined capacity of 265 MW.
Chile’s National Energy Commission (NCE) awarded the 20-year contracts to Aela Energia on Tuesday as part of a highly competitive bidding process for 1.2 GWh of energy, Mainstream announced in a statement. The Irish firm noted that Aela Energia won 65% of the auction in which a total of 31 companies participated.
Mainstream will now finalise development of the projects with the goal of completing construction and starting electricity supply to regulated customers in Chile’s SIC system from 2017.
Aela Energia has set an objective to deliver 600 MW of renewables in Chile for a total cost of USD 1.4 billion (EUR 1.27bn), its CEO Sergio del Campo commented. The firm has a USD-400-million capital fund for investments in wind and solar projects. At present, it owns the 33-MW Cuel wind park in Chile’s Biobio region.