Antofagasta parts with USD-28m stake in Chilean wind park
Wind farm in Chile. Author: Diego Correa.
Chilean conglomerate Antofagasta Plc (LON:ANTO) said on Tuesday that its Antofagasta Minerals unit has sold its 29.25% stake in the 115-MW El Arrayan Wind Farm for USD 28 million (EUR 24.2m).
Antofagasta announced this the same day Pattern Energy Group Inc (NASDAQ:PEGI) said it had left the Chilean market after selling its 81-MW owned interest in the particular wind farm to affiliates of Arroyo Energy Investors. The latter is also the one buying Antofagasta Minerals’s interest in the asset.
The Antofagasta subsidiary has sold its stake in order to focus on its mining operations and projects, it said in a separate statement.
The wind farm has been operational since 2014 and is selling 70% of its output to Minera Los Pelambres.