Aela Energia secures PPAs for 343 MW of wind in Chile
Wind farm in Chile. Featured Image: Pablo Rogat/Shutterstock.com
Dec 12, 2014 - Chilean renewable energy firm Aela Energia won 15-year power purchase agreements (PPAs) for five wind farms with a combined capacity of 343 MW at Chile's energy auction for supplies to power distributors on Thursday.
Aela Energia, a 60/40 joint venture of private equity investor Actis and Ireland-based Mainstream Renewable Power, will thus produce 1,140 GWh a year for Chile's central system SIC. The investment in the projects is estimated at nearly USD 860 million (EUR 692m), Mainstream Renewable said in a press release.
Among the five plants is the 33-MW Negrete Cuel, which has been operational since February 2014. The 44-MW Alena, 26-MW San Manuel, 90-MW Aurora and 150-MW Sarco wind farms will be built in Biobio, Los Lagos and Atacama regions. The four projects are seen to reach financial close in 2015 and enter construction shortly after. The projects have been fully developed by Mainstream and it will manage construction and operation on behalf of Aela Energia.
The joint venture was formed in 2013 to develop 600 MW of wind and solar projects in Chile by 2016.
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