Chile: Mainstream’s Chilean JV wins tender to build and operate 265 MW of wind power

Aela Energía, the joint venture company owned 60% by private equity investor Actis and 40% by global wind and solar company Mainstream Renewable Power, was today awarded contracts to build and operate two wind projects, with a combined generation capacity of 265 megawatts which will supply regulated customers in Chile’s SIC electricity system starting from 2017.  The company was awarded the 20 year contracts by the National Energy Commission (NCE) under a highly competitive bidding process which saw 31 companies compete for 1,200 gigawatt hours of energy.

After the public announcement, which saw Aela Energía win 65% of the tender, the company’s CEO Sergio del Campo, highlighted this achievement as a milestone that strengthens Aela’s presence in the country and contributes to its investment plan for Chile. “It is an important result and contributes to meeting our goal of delivering 600 megawatts onto the Chilean grid, involving an investment of US$ 1,400 million.”

Aela Energía has a capital fund of US$ 400 million to invest in non-conventional renewable energy (NCRE) wind and solar projects.

Mainstream, which has been active in the Chilean market for seven years, will complete development of the projects. “Mainstream brings a portfolio of high quality wind and solar PV projects to Aela Energía. We pride ourselves on the high standards to which we develop projects and our engagement with the communities in which our projects are located. Mainstream is delighted to see that our investment over the past seven years in Chile has culminated in this significant win for Aela Energía in what has been a highly competitive tender process” states Bart Doyle, Mainstream’s General Manager in Chile.

When asked about the supply of energy to household clients, Sergio del Campo said, “Aela has competitive and flexible commercial products to provide solutions to households based on a geographically-diverse portfolio of projects, which is highly attractive to the domestic industry.” He emphasized the international experience to create power generation projects and energy trading that Actis has, which together with Mainstream allows Aela to take a leadership position in the generation of ERNC in Chile.”

Currently Aela owns the 33MW Cuel Wind Farm in the Biobío Region which was developed, built and is being operated by Mainstream.