Sep 28 (Renewables Now) - Chile is set to build the largest wind farm in Latin America after Chilean power company Colbun SA won a bidding to install a 607-MW plant on public land.
The government launched a tender last year, offering almost 8,000 ha (19,768 acres) of public land in area of Taltal, the region of Antofagasta, for wind development, a site that is said to have some of the best wind resource in the world. It announced on Wednesday that the winner of the tender is Colbun with its 607-MW Horizonte project, representing an estimated investment of USD 971 million (EUR 825m).
Energy minister Andres Rebolledo noted that the 607 MW of capacity is about half of the country's current installed wind generation, which is 1,429 MW. Chile is aiming to increase the share of renewable energy generation to 60% by 2035 and 70% by 2050.
Colbun said separately that the project is in line with its strategy to diversify its generation portfolio and will complement its hydro and thermal power plants. The company currently purchases wind power from the 45-MW Punta Palmeras wind farm under a contract with Acciona Energia.
According to Colbun, the concession agreement provides for a study period of up to 48 months from signing, while the construction period will be of up to 36 months.
(USD 1 = EUR 0.850)